Question

explain the phase of industrial growth during the period 1991-2007 under the new economic policy​

Answer 1

The fourth phase of industrial revolution began in the mid nineties.

This period experienced a sharp industrial retrogression followed by an immediate upturn in the industrial growth of the country.

The former Prime Minister of India introduced the National Economic Policy of India on July 24 in 1991.

The National Economic Policy intended to bring down the rate of Inflation and its main objective of the policy was to plunge Indian Economy into the arena of Globalization and to give it a new thrust on market orientation.

This economy planned on achieving economic stabilization and to convert the economy into a market economy by removing all kinds of un-necessary restrictions.

The Indian Economy took sharp turn and gained increase till the year 1997 from the year 1991. From the year 1998, it began declining.

Answer 2

At the period of the 1991, here the pattern and other structure of Indian industries need to undergone with the major changes.

It he trend to the form of the industrial production which show the improvement of the 6.p c.

Then growth rates for the period and it can declined up to very low level around the 3.7 in 1966.

Hope the period was consider as the best Indian industries.