explain the new industrial policy of 1991
Answers
The 1991 policy attempted to liberalise the economy by removing bureaucratic hurdles in industrial growth. The role of public sector was limited. ... This brought domestic as well as foreign investment in almost every sector opened to private sector. The policy was followed by special efforts to increase exports.
The New Industrial Policy of 1991 comes at the center of economic reforms that launched during the early 1990s. All the later reform measures were derived out of the new industrial policy. The Policy has brought comprehensive changes in economic regulation in the country. As the name suggests, these reform measures were made in different areas related to the industrial sector.
As part of the policy, the role of public sector has been redefined. A dedicated reform policy for the public sector including the disinvestment programme were launched under the NIP 1991. Private sector has given welcome in major industries that were previously reserved for the public sector.
please mark as brainliest answer