Question

1. What was the need for new economic policies ?​

Answer 1

Answer:

Gulf crisis, bad performance of public sector and inflation led to the need for New Economic Policy in India. New Economic Policy was adopted by the Central government of India in the year of 1991. It has given emphasis on liberalization, privatization and globalization.

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Answer 2

Hey Mate !

The New Economic Policy comprises the set of policy measures introduced since July 1991. The objective of NEP is to improve the efficiency of the system in total and creating a more competitive environment in the economy as a means to improving the productivity and efficiency of the system in particular.

Gulf crisis, bad performance of public sector and inflation led to the need for New Economic Policy in India. New Economic Policy was adopted by the Central government of India in the year of 1991. It has given emphasis on liberalization, privatization and globalization.

Explanation:

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