LPG Reforms
LPG Reforms is a Economy concept from the MPSC syllabus, tested in 2 past MPSC questions (2019, 2021). Below are those real questions with their correct answers and explanations, plus the concepts worth being comfortable with first.
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सन 1991 मध्ये विकासाचे एलू.पी.जी. प्रतिमान ____________ या वेळेलोच्या अर्थ मंत्र्यांनी अमलात आणले. The LPG model of development was introduced in 1991 by then Finance Minister
Dr. Manmohan Singh was the Union Finance Minister in the P.V. Narasimha Rao government who presented the landmark 1991 Union Budget and introduced the LPG reforms.
1991 साली भारत सरकारने स्वीकारलेल्या नवीन आर्थिक धोरणामुळे पुढीलपैकी कोणत्या मूल्याचे महत्त्व कमी झाले ? Which value cost its salience with the adoption of the 1991 New Economic Policy ?
(a)समाजवाद / Socialism
(b)धर्मनिरपेक्षता / Secularism
(c)लोकशाही / Democracy
(d)संघराज्यवाद / Federalism
The New Economic Policy (NEP) of 1991 introduced Liberalisation, Privatisation, and Globalisation (LPG), shifting focus toward market capitalism and reducing the prominence of traditional socialism.