compares the arguments for and against new economice policies
Answers
The New Economic Policy which was introduced by the Indian government in 1991 were exposed to certain arguments.
Some arguments for the New Economic Policy are as follows:-
1) Steps are being taken to raise the efficiency and profitability of public sector organizations.
2) The new policy seeks to reduce the magnitude of poverty and inequality in the distribution of income and wealth.
3) Steps are being taken to develop small scale industries.
4) The private sector investment are being promoted in important areas by the new policy.
Some arguments against the New Economic Policy are as follows:-
1) The agricultural sector has been neglected compared to the industry, trade and services sector by the new policy.
2) The new policy has failed to upgrade indigenous technology and has increased its reliance on foreign technology.
3) The new policy has increased the reliance of India on foreign assistance and has proliferated the amount of external debts.