Financial Awareness - Risk, Stability & Emerging Finance
Which of the following is a correct sequence representing the LPG reforms in India?
Which of the following is a correct sequence representing the LPG reforms in India?
hard Q9 of 15
Step-by-Step Solution
Step 1: Understand the sequence of reforms
The LPG reforms started with Liberalization (removing restrictions), followed by Privatization (disinvestment), and then Globalization (opening to world economy).Step 2: Analyze options
Sequences starting with Globalization or Privatization first are incorrect as per historical reforms.Final Answer:
Liberalization → Privatization → Globalization → Option DQuick Check:
LPG reforms sequence = Liberalization, Privatization, Globalization ✅
Quick Trick: Mnemonic: LPG = 1(Liberalization), 9(Privatization), 9(Globalization), 1(Year 1991)
Common Mistakes:
- Mixing order of reforms
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