India has adopted _______ policy of economic development since 1991. (Fill in the blank by choosing correct option)
1) Liberal
2) Restrictive
3) Strict
4) Normal
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The answer is-
liberal
liberal
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India has adopted a liberal policy of economic development since 1991.
Answer: Option (1)
Explanation:
Since 19991 it was a period of economic stability in India. There was no five-year plan that was implemented during this time. Soon the country faced the problem of foreign reserves. The government introduced the free-market reforms that helped the stabilise the countries financial situation.
This started the process of liberalisation and globalisation phase in the country. The Indian economy had opened up and it introduced the process of industrialisation.
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