Question

discuss the industrial sector reforms introduced under the new economic policy.​

Answer 1

Answer:

The new industrial policy introduced in 1991 is the central point of the economic reforms. In the following years, the government has introduced further policy changes for trade liberalization, financial sector liberalization and foreign investment policy changes to sustain the momentum initiated in 1991.

Answer 2

The government's neoliberal policies, which were enacted in 1991 and succeeding years, are linked to new economic changes in India.

• Economic liberalization, which featured fewer rules, a stronger role for the private sector, and increased economic competitiveness, was a critical aspect of the changes.
• The new economic changes are centered on the New Industrial Policy of 1991.
• The new economic policy's philosophy aimed to promote competition by adopting a more market-oriented approach.
• Economic reform had a significant and largely favorable impact on the economy over the last twenty-five years.