Initiated by then-Prime Minister P.V. Narasimha Rao and Finance Minister Dr Manmohan Singh, the LPG model was a response to a severe balance-of-payments crisis.
: Focused on integrating the Indian economy with the world through reduced import tariffs, increased foreign direct investment (FDI), and improved trade policies. Key Impacts: lpgmp4
: Involved transferring ownership of public sector enterprises to private entities to increase efficiency and reduce the government's debt burden. Initiated by then-Prime Minister P
