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SSC CGL 2023 PYQ — Question 38

SSC CGL - 18 July 2023 - Shift 2 • General Awareness • Q38

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In which Five-Year Plan was the process of economic reforms introduced in India?

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Correct answer: C

Explanation

The correct answer is option 3 i.e. Eighth

  • The process of economic reforms in India was introduced during the Seventh Five-Year Plan (1985-1990).
  • However, it gained significant momentum and was more comprehensively implemented in the subsequent years, particularly during the Eighth Five-Year Plan (1992-1997).
  • The economic reforms in the early 1990s marked a shift towards liberalization, privatization, and globalization, commonly referred to as the LPG reforms. These reforms aimed to open up the Indian economy, attract foreign investment, and enhance overall economic growth.