Question
On 24th July, 1991 an India's New Economic Policy was
introduced known as the LPG, in which L stands for?Solution
LPG stands for Liberalization, Privatization and Globalization. It was introduced on 24th July, 1991. Liberalization ensures a relaxation from severely strict laws and rules of government. Privatization is the complete transfer of roles and operations of publicly owned means to private ownership. Globalization is the next step forward to increase the network of trade and culture interconnecting the whole of the world.  Â
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