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PSIR Optional PYQ Solutions · Model answer

Comment: New Economic Policy 1991.

  • UPSC 2002
  • 20 marks
  • Planning and Economic Development

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The New Economic Policy (NEP) of 1991 was India's response to a balance-of-payments emergency. The minority government of P. V. Narasimha Rao, with Manmohan Singh as Finance Minister, combined short-run stabilisation with long-run structural adjustment. It replaced a regime of permissions with markets and regulators, and was never put to the electorate.

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  • The emergency behind it
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  • Conclusion
PSIR Optional PYQ Solutions

PSIR Optional PYQ Solutions

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