Briefly discuss the impact of economic reforms in India
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Economic reforms have an important impact on Indian economy. There is many changes in Indian economy, after adopted the policy of LPG. ... Liberalization, Privatization and Globalization came in behaviour after the economic reforms. Foreign investors started the investment in many sectors.
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.
Policy changes were proposed with regard to technology up-gradation, industrial licensing, removal of restrictions on the private sector, foreign investments and foreign trade. The essential features of the economic reforms are – Liberalisation, Privatisation and Globalisation, commonly known as LPG.
Economic liberalisation in India was initiated in 1991 by Prime Minister P. V. Narasimha Rao and his then-Finance Minister Dr. Manmohan Singh. The reforms were aimed at attaining a high rate of economic growth, reducing the rate of inflation, reducing the current account deficit and overcoming the balance of payments crisis. The important features of the economic reforms were Liberalisation, Privatisation and Globalisation, popularly known as LPG.
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Here is your answer
Economic reforms have an important impact on Indian economy. There is many changes in Indian economy, after adopted the policy of LPG. ... Liberalization, Privatization and Globalization came in behaviour after the economic reforms. Foreign investors started the investment in many sectors.
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.
Policy changes were proposed with regard to technology up-gradation, industrial licensing, removal of restrictions on the private sector, foreign investments and foreign trade. The essential features of the economic reforms are – Liberalisation, Privatisation and Globalisation, commonly known as LPG.
Economic liberalisation in India was initiated in 1991 by Prime Minister P. V. Narasimha Rao and his then-Finance Minister Dr. Manmohan Singh. The reforms were aimed at attaining a high rate of economic growth, reducing the rate of inflation, reducing the current account deficit and overcoming the balance of payments crisis. The important features of the economic reforms were Liberalisation, Privatisation and Globalisation, popularly known as LPG.
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