Home Indian Economy MCQs

Question

The LPG reforms of 1991 refer to:

  1. Liquefied Petroleum Gas reforms
  2. Liberalization, Privatization, and Globalization
  3. Land Policy and Governance reforms
  4. Labour Policy and Growth reforms

Answer:

Option B: Liberalization, Privatization, and Globalization

Detailed Solution:

The correct answer is “Liberalization, Privatization, and Globalization”.

LPG stands for Liberalization, Privatization, and Globalization, which were the key elements of the 1991 economic reforms.