Choose the correct answer:
I. Economic Reforms refer to the fundamental changes that were launched in 1991 with the plan of liberalizing the economy and for quickening its rate of economic growth.
II. The Narasimha Rao Government, in 1991, started the economic reforms in order to rebuild internal and external faith in the Indian economy.
Statement (I) is correct
Statement (II) is correct
Statement (I) & (II) both are correct
Statement (I) & (II) both are incorrect
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