Consider the following statements regarding the Liberalisation, Privatisation, and Globalisation (LPG) reforms in Indian history and choose the correct statements from the options given below:

 

A) The LPG reforms were initiated in India in the early 1990s as a response to a critical balance of payments crisis, leading to substantial changes in the economic policies of India.

B) A major component of the liberalisation aspect was the removal of the License Raj, which required industries to obtain government permission to invest and expand.

C) Privatisation involved the government's direct involvement in the economy increasing, with measures initiated to strengthen the role of public sector undertakings.

D) Globalisation in the context of the LPG reforms aimed at increasing India's connectivity with the world economy, promoting exports, and encouraging foreign direct investment (FDI).