Question

What was one key reform introduced under the New Economic Policy (NEP) in 1991?

Options

• Reintroduction of License Raj

• Nationalisation of all private banks

• Allowing private sector entry into previously restricted fields

• Fixing the rupee exchange rate

Answer 1

Allowing private sector entry into previously restricted fields

Explanation:

The NEP encouraged private businesses to expand in sectors that were earlier reserved for the government.