Consider the following statements regarding the New Economic Policy of 1991?
1. Depletion of Foreign exchange reserves was one of the factors leading to the introduction of this policy.
2. Establishment of foreign private sector banks in India become easier after the introduction of this policy.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2