Which of the following was a cause behind the adoption of New Economic Policy in 1991 ?
1.Huge Fiscal Deficit
2.Adverse Balance of Payment
3.Gulf War
4.All of the above
Answers
Answer:
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Answer:
The crisis was so serious that Chandra Shekhar government had to mortgage gold reserves with other countries to pay off interest and foreign debt. It forced India to adopt a new set of measures to accumulate foreign exchange reserves.
Explanation: