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[[1]] refers to various economic reforms or policy measures and changes that aim to increase productivity and efficiency in the economy by creating a competitive environment.

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Detailed Solution

New Economic Policy refers to various economic reforms or policy measures and changes that aim to increase productivity and efficiency in the economy by creating a competitive environment.
In 1991, the Indian government adopted a new economic policy. The new policy opened the Indian economy and interlinked it with the world economy. The MNCs set up their production units and invest their capital in developing countries that generate foreign investment. The money that MNCs invest in developing countries to buy assets like buildings, land, and machines boosts the economy of a developing country.

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[[1]] refers to various economic reforms or policy measures and changes that aim to increase productivity and efficiency in the economy by creating a competitive environment.