Question

Explain the achievement of the Economic reforms.​

Answer 1

Increase in National Product: Before 1990, the growth rate of national income was 4.7% on the implementation of new economic policy, growth rate reduced to 0.6 percent. In 1993-94 growth rate rose to 5.0 percent at 1993-94 prices and in 1996-97 it rise to 8.2 percent. In 2000-01 growth rate was witnessed to be 6.2%.

Answer 2

Explanation:

Increase in National Product:

Before 1990, the growth rate of national income was 4.7% on the implementation of new economic policy, growth rate reduced to 0.6 percent. In 1993-94 growth rate rose to 5.0 percent at 1993-94 prices and in 1996-97 it rise to 8.2 percent. In 2000-01 growth rate was witnessed to be 6.2%.

Need for Economic Reforms

• Poor Performance of the

• Industrial Sector

• Adverse Balance of Payments

• Rise in Fiscal Deficit

• inflation

• The Gulf War

.