Question : What is the primary objective of liberalization, privatization, and globalization in India?
Option 1: Reducing poverty
Option 2: Promoting economic growth
Option 3: Increasing government control
Option 4: Enhancing social welfare
Correct Answer: Promoting economic growth
Solution : The correct answer is (b) Promoting economic growth
The LPG policy measures were implemented in India in the early 1990s with the aim of liberalizing the economy, reducing government control, encouraging private sector participation, and integrating the Indian economy with the global economy. These reforms were intended to stimulate economic growth, attract foreign investment, foster competition, and enhance overall economic efficiency.
However, it is important to note that the effects of LPG policies are complex and multifaceted, and their impact on poverty, social welfare, and other aspects of the economy can vary depending on various factors and implementation strategies.
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