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  1. In the post-Independence period, economic reforms were first introduced in India under:
    1. Janata Party Government (1977)
    2. Indira Gandhi Government (1980)
    3. Rajiv Gandhi Government (1985)
    4. P.V. Narasimha Rao Government (1990)
Correct Option: D

The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalization, Privatization and Globalization model. LPG model of economic development in India was proposed by Dr. Manmohan Singh economist and finance minister at that time under the PV Narasimha Rao Government in 1990.


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