Question

18. Differentiate he economic policies of India before and after 1991.​

Answer 1

Answer:

ᴛʜᴇ ɴᴇᴡ ɪɴᴅᴜsᴛʀɪᴀʟ ᴘᴏʟɪᴄʏ ᴇsᴛᴀʙʟɪsʜᴇᴅ ɪɴ sᴏᴜɢʜᴛ sᴜʙsᴛᴀɴᴛɪᴀʟʟʏ ᴛᴏ ᴅᴇʀᴇɢᴜʟᴀᴛᴇ ɪɴᴅᴜsᴛʀʏ sᴏ ᴀs ᴛᴏ ᴘʀᴏᴍᴏᴛᴇ ɢʀᴏᴡᴛʜ ᴏғ ᴀ ᴍᴏʀᴇ ᴇғғɪᴄɪᴇɴᴛ ᴀɴᴅ ᴄᴏᴍᴘᴇᴛɪᴛɪᴠᴇ ɪɴᴅᴜsᴛʀɪᴀʟ ᴇᴄᴏɴᴏᴍʏ. ᴛʜᴇ ᴄᴇɴᴛʀᴀʟ ᴇʟᴇᴍᴇɴᴛs ᴏғ ɪɴᴅᴜsᴛʀɪᴀʟ ᴘᴏʟɪᴄʏ ʀᴇғᴏʀᴍs ᴡᴇʀᴇ ᴀs ғᴏʟʟᴏᴡs: ɪɴᴅᴜsᴛʀɪᴀʟ ʟɪᴄᴇɴsɪɴɢ ᴡᴀs ᴀʙᴏʟɪsʜᴇᴅ ғᴏʀ ᴀʟʟ ᴘʀᴏᴊᴇᴄᴛs ᴇxᴄᴇᴘᴛ ɪɴ ɪɴᴅᴜsᴛʀɪᴇs.

ʜᴇʀᴇ ɪs ᴜʀ ᴀɴsᴡᴇʀ ʜᴏᴘᴇ ɪᴛ ᴡɪʟʟ ʜᴇʟᴘ ᴜ

Answer 2

The New Industrial Policy established in 1991 sought substantially to deregulate industry so as to promote growth of a more efficient and competitive industrial economy. The central elements of industrial policy reforms were as follows: Industrial licensing was abolished for all projects except in 18 industries.

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