Economics · Economy
Which of the following was the primary reason for introducing the Liberalisation, Privatisation, and Globalisation (LPG) reforms in 1991 in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Persistently low inflation rate
- 2Exponential increase in government budgetary revenue
- 3High fiscal deficit and severe balance of payments crisis✓
- 4High foreign exchange reserves
Correct answer
High fiscal deficit and severe balance of payments crisis
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