Multiple choice general knowledge

Simplest: Gradual reduction in customs duty?

  1. Manmohan Singh

  2. P Chidambaram

  3. VP Singh

  4. Yashwant Sinha
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A Correct answer
Explanation

Dr. Manmohan Singh, as Finance Minister in 1991, initiated the policy of gradual reduction of customs duties as part of India's economic liberalization. This was a cornerstone of the New Economic Policy, moving away from the protectionist regime. P. Chidambaram and Yashwant Sinha were later Finance Ministers who continued similar reforms.

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