Question

(1) Why did the Government of India decide
to implement (New) Industrial Policy in 1991 ?​

Answer 1

Explanation:

The main objectives to launch new economic policy (NEP) in 1991 are as follows: The main objective was to plunge Indian economy in to the field of 'Globalization and to give it a new drive on market orientation. The new economic policy intended to reduce the rate of inflation and to remove imbalances in payment.