Question

Discuss briefly major steps taken by the government of India on financial sector under the economic reforms of 1991.​

Answer 1

Many steps have been taken to attract foreign investment. Some of these are as follows: ... (a) In 1991, 51% of foreign investment in 34 high priority industries was allowed without seeking government permission. (b) Non-Resident Indians (NRIs) were allowed to invest 100% in the export houses, hospitals, hotels, etc.