Question

As a result of changing economic policies, there has been a large scale
transfer of capital, goods and services and technical knowhow across the border.
Though India used to maintain a strong public sector and controlled foreign trade,
of late the economic policies have undergone a change.
What was the essence of the policy change that began in 1991?​

Answer 1

Required Answer:

☑ There was a lowering of tariffs and import taxes, promotion of private investment, an overall lowering of taxes, an increase in foreign investment and FDI, deregulation of markets, etc. Liberalization has been responsible for the economic growth of the country after 1991.

Answer 2

Explanation: the late economic polices have a undergone a change in 1991 before 1991 india is used to have a strong public sector and their goods were high at cost in foreign countries so in 1991 the foreign people thought to rule the india because of the goods being high at cost the plan of ruling the india became a success and they made a rule that any types of goods they made should be given to them so they undergoes a change made by foreign trade so in that time india have few population only because of the rule so to increase the population policy change is very important  like they have to stop foreign countries  from controlling  them the population increase so policy change is esscenctial for population

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