The correct response is: The country was unable to pay for vital imports.
In 1991, India faced a severe balance of payments crisis, which limited its ability to pay for essential imports and led to a need for economic reforms.
Why did India embark on far-reaching economic reforms in 1991?(1 point)
Responses
India had recently gained independence.
India had recently gained independence.
The country faced severe food shortages.
The country faced severe food shortages.
The country was unable to pay for vital imports.
The country was unable to pay for vital imports.
There was a shortage of labor.
There was a shortage of labor.
1 answer