Economics · Economy

Which policy framework laid the foundation for India's economic liberalization in the early 1990s?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The Gandhian model focusing on self-reliance.
2The New Economic Policy (NEP) initiated by P.V. Narasimha Rao and Manmohan Singh's governments.✓
3A continuation of the License Raj system.
4Import Substitution

Correct answer

The New Economic Policy (NEP) initiated by P.V. Narasimha Rao and Manmohan Singh's governments.

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