Question

How was 1991 a year of important changes in the history of the world and of India?

Answer 1

1. The year 1991 is held to be very important in the history of the world as well as India.
2. The Soviet Russia disintegrated into several different small countries and the Cold War came to an end.
3. In India, the Government under the leadership of Prime Minister P.V. Narasimha Rao initiated many changes in the Indian economy.
4. The Narasimha Rao Government started economic reforms from 1991. These economic reforms are called as economic liberalisation.
5. The Indian economy flourished as a result of the implementation of this policy.
6. The foreign investment in India increased. Skilled Indian professionals helped reform the Indian economy. The field of information technology opened several avenues of employment in the country.
7. The changes after 1991 are also described as ‘globalisation’.