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New Economic Policy, 1991
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UNIT
II
ECONOMIC REFORMS
SINCE 1991
UNIT
IIIII
2015-16(20/01/2015)
After forty years of planned development, India
has been able to achieve a strong industrial base
and became self-sufficient in the production of food
grains. Nevertheless, a major segment of the
population continues to depend on agriculture for
its livelihood. In 1991, a crisis in the balance of
payments led to the introduction of economic
reforms in the country. This unit is an appraisal of
the reform process and its implications for India.
2015-16(20/01/2015)
After studying this chapter, the learners will
• understand the background of the reform policies introduced in India
in 1991
• understand the mechanism through which reform policies were
introduced
• comprehend the process of globalisation and its implications for India
• be aware of the impact of the reform process in various sectors.
Explanation: