Under Rao's rule, which historic economic crisis did India face?
2008 Global Recession
1991 Balance of Payments crisis
1980s Oil Shock
1997 Asian Financial Crisis
Answer
The 1991 Balance of Payments crisis, also referred to as the Indian economic crisis of 1991, was a severe financial crisis that India experienced. It was triggered by a combination of internal and external factors, including a large fiscal deficit, high levels of external debt, and a decline in foreign exchange reserves.
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