Question

briefly explain the back ground of economic reformsb in india- 4 marks​

Answer 1

Answer:

The post independence period of India was marked by economic policies which tried to make the country self sufficient. Under the economic reform, stress was given more to development of defense, infrastructure and agricultural sectors. Government companies were set up and investment was done more on the public sector.

Answer 2

Answer: Economic Reforms refer to the fundamental changes that were launched in 1991 with the plan of liberalizing the economy and for quickening its rate of economic growth. The Narasimha Rao Government, in 1991, started the economic reforms in order to rebuild internal and external faith in the Indian economy.

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