comment on the policy of the Indian government after 1991.
Answers
In 1991, the P. V. Narasimha Rao government reduced the import duties, opened reserved sector for the private players, devalued the Indian currency to increase the export and reduce the adverse Balance of Payment (BOP) situation. This is also known as the LPG Model of growth.
HEMANT PRATAP SINGH
JUN 10, 2019 15:19
New Economic Policy of India-1991
New Economic Policy of India-1991
New Economic Policy refers to economic liberalisation or relaxation in the import tariffs, deregulation of markets or opening the markets for private and foreign players, and reduction of taxes to expand the economic wings of the country.
Former Prime Minister Manmohan Singh is considered to be the father of New Economic Policy (NEP) of India. Manmohan Singh introduced the NEP on July 24,1991.
Main Objectives of New Economic Policy – 1991, July 24
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