Objectives of Economic Reforms or New Economic Policy 1] To create a more comprehensive environment in the economy as a means to improve the efficiency of resource use, stimulate industrial activities and increase international competitiveness of Indian industrial production in…
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NEW ECONOMIC POLICY – IV
Characteristics of New Economic Policy 1] Abolition of Industrial licensing The ‘license- permit raj’ as well as ‘Subsidy State’was dismantled. The only industries which are now reserved for public sector are, defence equipment, atomic energy generation and railway transport. Industries…
NEW ECONOMIC POLICY – III
Need For New Economic Policy 1980 – 1985 Indian Government started reducing controls over private sector but these steps were not sufficient to improve deteriorating conditions of the Indian economy. In 1990 Indian economy was on the verge of collapse.…
NEW ECONOMIC POLICY – II
MEANING Economic Reforms are the measures which aim at radically changing the very basic character of the economy. It means a change from “regulated economy” to a “liberalized economy”. The State will no longer play the role of a “controller”…
NEW ECONOMIC POLICY – I
INTRODUCTION. Since the adoption of IPR 1948 significant developments took place in India. It marked the dawn of a mixed economy in India. 26th November 1949 – The constitution of India adopted with its “directive principles” of state policy by…