Indian Economic Policy After 1991


 
 
Concept Explanation
 

Indian Economic Policy After 1991

Indian Economic Policy After 1991: Due to the fall of the Soviet Union and the problems in balance of payment accounts, the country faced economic crisis and the IMF was asked for the bailout loan. At this crucial juncture, the then Prime Minister Narasimha Rao and his Finance Minister Manmohan Singh initiated the economic liberalisation, which changed the economic face of the country. The reforms put an end to 'Red tapeism' and also to several public monopolies. Foreign direct investments in a number of sectors started pouring in.The year 1991 is considered to be one of the mílestones in India economic reform as it changed the market and financial scenario of the country. Under the liberalisation program, foreign direct investment was encouraged, public monopolies were stopped, and service and tertiary sectors were developed. Since the initiation of the liberalisation plan in the 1990s, the econonic reforms have put emphasis on the open market economic policies. Foreign investments have come in various sectors and there has been a good growth in the standard of living, per capital income and Gross Domestic Product.

During the last few years of economic reforms, India saw some important changes in the liberalisation and rationalisation of

  • Domestic and foreign investment
  • Import and export trade controls
  • Tax structure
  • Public and financial activities
  • Sample Questions
    (More Questions for each concept available in Login)
    Question : 1

    The process of economic liberalization in India is considered to be begin ________________________

    Right Option : C
    View Explanation
    Explanation
    Chapters
    Constitutional Development in India
    Non-Constitutional Organisation
    Art, Architecture & Culture of India
    Pantings
    Theatre
    Dance
    Music
    The State Legislature
    Local Self Goverment
    Emergency Provisions
    Constitutional Organisation
    Union And Its Territory
    Structure of Indian Constitution
    Third Phase of National Movement
    Indian Struggle Against British Rule
    Constitutional Development of India
    Socio Religious Reforms
    Growth of British Paramountacy
    Post Mughal Period
    Irrigation System Of India
    National Income
    Inflation And Trade Cycles
    Poverty And Unemployment
    Infrastructure In India
    Sectors Of Indian Economy
    Economic Growth And Development
    Banking System In India
    Census of India 2011
    Windlife Conservation In India
    Architecture During Medivial India
    Major Industries In India
    Means Of Transport In India
    Natural Vegetation
    Agriculture In India
    The Physical Features Of India
    Soils In India
    Climate Of India
    Drainage System of India
    Advent Of The Europeans
    The State Executive
    Judiciary In India
    The Union Legislature
    The Union Executive
    Fundamental Rights and Duties
    Constituent Assembly
    Second Phase of National Movement
    First Phase of National Movement
    The Revolt Of 1857
    Election Commission Of India
    Lodhi Dynasty
    Mughal Empire And Beyond
    Tughlaq and Sayyid Dynasty
    Slave Dynasty
    Khilji Dynasty
    The Early Kingdoms
    The Mauryan Empire
    The Age Of The Guptas
    Chemistry In Everyday Life
    Administrative Structure of Delhi Sultanate
    Post Gupta Era
    Post Mauryan Period
    Religious Reform Movement
    Vedic Civilization
    Indus Valley Civilization
    Tissues In Organism
    Units And Dimensions
    Pre-Historic Period
    Environmental Studies
    Bio-Diversity
    Human And Regional Geography
    Fiscal And Monetary Policy In India
    Major Institutions
    Economic Planning Of India
    India - Size And Location
    Constitutional Amendments and Provisions
    Content / Category
    Class / Course
     
     
     


    Students / Parents Reviews [20]