2. What are the merits and demerits
of economic policy in 1991. (liberalisation, privatisation, globalisation)
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Explanation:
Merits of The LPG Policies
A Vibrant Economy. ...
Stimulant to Industrial Production. ...
Curb on Fiscal Deficit. ...
A Check on Inflation. ...
Consumer's Sovereignty. ...
A Substantial Increase in Foreign Exchange Reserves. ...
Flow of Private Foreign Investment. ...
Recognition of India as an Emerging Economic Power.
Demerits
Neglect of agriculture
Urban concentration of growth process
economic colonisation
spread consumption
cultural erosion
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