Question : What does 'L' stand for in the LPG strategy of 1991?
Option 1: Legislative
Option 2: Landmark
Option 3: Liquid
Option 4: Liberalisation
Correct Answer: Liberalisation
Solution : The correct answer is Liberalisation .
The 'L' in the LPG strategy of 1991 stands for liberalisation. And P for privatisation and G for globalization. The Indian Government embraced a series of economic measures in 1991 known as the LPG strategy, or New Economic Policy (NEP), to reduce government intervention in the market and promote faster economic growth.
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