Question : Statement 1: The 1991 economic policy aimed to reduce government intervention in the economy.
Statement 2: The economic reforms of 1991 were primarily driven by socialist ideology.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Statement 1 is true, and statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, and statement 2 is false.
Statement 1 is true: The 1991 economic policy in India aimed to reduce government intervention in the economy. It involved liberalization, deregulation, and privatization measures to promote a market-oriented economy.
Statement 2 is false: The economic reforms of 1991 were not primarily driven by socialist ideology. Instead, they were driven by the need to address economic crises, promote growth, and integrate India into the global economy.
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