Arrange the following economic reforms/events in India in chronological order starting from the earliest: 1. Introduction of the Insolvency and Bankruptcy Code (IBC). 2. Devaluation of the Indian Rupee by around 18-20% in two steps. 3. Setting up of the Disinvestment Commission under G.V. Ramakrishna. 4. Replacement of the Foreign Exchange Regulation Act (FERA) with the Foreign Exchange Management Act (FEMA). Select the correct answer using the code given below:

Options:

• A: 2-3-1-4
• B: 3-2-4-1
• C: 2-3-4-1
• D: 2-4-3-1

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