Question

16. Briefly describe any four impact of economic reforms.​

Answer 1

Answer:

1.Most firms felt that the reforms were helpful by increasing access to foreign technology and making imports of capital and intermediate goods cheaper. They also felt that improvement in infrastructure and more flexible labour laws will facilitate further growth of India's manufacturing sector.

2.Reforms have led to an increase in the income of those who were already rich. Quality of consumption of only high income groups increased, economic growth has not trickled down to the poorer sections of the society.

3.Reforms led to increased competition in the sectors like banking, leading to more customer choice and increased efficiency. It has also led to increased investment and growth of private players in these sectors.

Answer 2

Answer:

Reforms lead to increased competition in the sectors like banking, leading to more customers choice and increased efficiency. it has also led to increased investment and growth of private players in these sector.