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assertion based question assertion tax i n c and t i v e s r provided to foreign investors which further reduced the scope for r a i s i n g t a x revenues reason this has negative impact on development and welfare expenditures of the country​

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singhsaurav7239

Explanation:

Assertion (A): To overcome economic crisis and accelerate the growth rate of Indian Economy, New Economic Policy was adopted by the government in July 1991 with elements of Liberalisation, Privatisation and Globalisation. Reason (R): In 1991, India met with an economic crisis relating to its external debt.

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