Economy

Step 1: Understanding Operation Flood
Operation Flood, launched in 1970 by the National Dairy Development Board (NDDB), is a landmark initiative aimed at creating a nationwide milk grid. It involved linking rural producers with urban markets and ensuring fair prices for both milk producers and consumers.
Step 2: Key Objectives of Operation Flood
The primary goal of Operation Flood was to build a strong dairy cooperative network across India, which allowed small farmers to become part of the milk production chain. The initiative successfully created the world's largest dairy cooperative network and helped in ensuring fair prices for milk.
Step 3: Final Answer
Thus, Operation Flood dealt with the creation of a Nationwide Milk Grid to connect dairy farmers to urban markets.

The era of globalisation, liberalisation, and privatisation in India began in 1991, under the leadership of Prime Minister P. V. Narasimha Rao and Finance Minister Dr. Manmohan Singh. The economic crisis in 1990-91, including a balance of payments crisis, forced the Indian government to undertake major economic reforms. These reforms included devaluation of the rupee, reduction of import tariffs, privatization of state-owned enterprises, and the encouragement of foreign investment.
The shift towards a market-driven economy signaled India's entry into the global economic system. The liberalisation policies transformed India's economy, leading to rapid growth in the following decades. The 1991 reforms also led to the emergence of a middle class and accelerated India's integration into the global marketplace.