Q.Which of the following is NOT one of the three pillars of India's 1991 New Economic Policy?

The three pillars of the 1991 New Economic Policy were Liberalisation, Privatisation and Globalisation (LPG) — nationalisation is not one of them. …

India's 1991 New Economic Policy rested on three pillars, together called the LPG reforms: Liberalisation (reducing government control so market forces play a bigger role), Privatisation (transferring PSU ownership/management to the private sector), and Globalisation (integrating the domestic economy with the world economy). "Nationalisation" is the opposite idea — it means the government taking over private enterprises, which is exactly the direction India's economy had moved AWAY from during the pre-1991 licence-permit era, and which the 1991 reforms specifically reversed through …

Confusing nationalisation (state takeover) with privatisation (state hand-over) since they sound like opposites of a similar theme — remem …