Q.The triple pillars of New Economic Policy are :

The LPG reforms refer to the major package of economic reforms India introduced around 1991, in response to a serious balance-of-payments crisis in which foreign exchange reserves fell to a critically low level. Liberalisation involved reducing government controls and licensing requirements on industry and trade; privatisation involved reducing the public sector's role in areas where private enterprise could operate and encouraging private and foreign investment; and globalisation involved integrating the Indian economy more closely with the world economy through lower trade barriers and greater openness to foreign trade a …