Question

Changes in policy perspectives on the role of institutional framework after 1991.

Answer 1

Answer:

1) The main role is mobilization of resources tax and Non tax resources.

2) And rationalizing the grant of subsidy.

3) Also at the same time reducing the government expenditure.

4) Increased micro finance.

5) operational autonomy.

6) And also fixing prudential norms.

7) improved profitability and efficiency.

8) Many administrated prices of industrial products like natural gas and petroleum products has been abandoned.

9) Market based pricing.

10) Rupee value to be determined by the market forces.

Answer 2

Answer:

Many policies were reformed after the crisis of 1991.

Reforms in Fiscal policy

Rational subsidy grant

Reduction in government loans.  

Mobilization of resources

Monetary Policy Reforms

Diversification of Banks

Introducing CRAR

Increase in micro Finance

Improvement in efficiency and profit

Price Policy Reforms

Abandoning administered system prices of gas, petroleum, and electricity .

Selling of food and kerosene through the public transport system .

Direct transfer of subsidy into bank accounts .