Exams › SSC CGL (Prelims) › General

What was the major short-term objective of the stabilization measures in the 1991 reforms?

1. Increase agricultural production
2. Enhance social sector spending
3. Control inflation and restore balance of payments
4. Privatize public sector units

Correct answer: Control inflation and restore balance of payments

Solution

The stabilization package in 1991 was designed to deal with the immediate economic crisis. Its short-term aim was to control inflation and restore balance of payments stability, while structural reforms addressed longer-term changes.

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