Explain the three elements of new Economic policy.....
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Answered by
20
Heya...
New Economic Policies were launched in 1991...
It has three elements ..
Liberalisation...
Privatization...
Globalization ...
This policy also known as LPG policies....
Explaiination....
1 Liberalisation...
Liberalisation of economy means it's freedom from direct or physical controls imposed by govt ..
Prior to 1991 govt had imposed lots of controls and restrictions on private sector like price control, import licensing etc .but after this policy all controls were withdrawal...
2 Privatization...
It is the process of involving private sector on the ownership of state owned enterprises...
By the corruption should be stopped and the new fast growth should be done...
3 Globalization....
It means the irrigating an economy of a country with economies of other countries under the condition of free trade across borders..
It gives many new best technologies to our country and promote FDI and FII...
New Economic Policies were launched in 1991...
It has three elements ..
Liberalisation...
Privatization...
Globalization ...
This policy also known as LPG policies....
Explaiination....
1 Liberalisation...
Liberalisation of economy means it's freedom from direct or physical controls imposed by govt ..
Prior to 1991 govt had imposed lots of controls and restrictions on private sector like price control, import licensing etc .but after this policy all controls were withdrawal...
2 Privatization...
It is the process of involving private sector on the ownership of state owned enterprises...
By the corruption should be stopped and the new fast growth should be done...
3 Globalization....
It means the irrigating an economy of a country with economies of other countries under the condition of free trade across borders..
It gives many new best technologies to our country and promote FDI and FII...
Answered by
13
Heya.....
@@ Three economic policies were introduced in India in 1991.....
@@ These are also called LPG policies which are as follows.....
------>>>> Liberalisation.....
In this all the restrictions from the private sector has been removed and these enterprises are free to choose their work and technology....
------>>>> Privatization.......
In this all the sectors having public control were transferred to private sector from the motive of high GDP growth......
------>>>> Globalization........
In this Indian economy was integrated with the economies of other countries in terms of free trade policies....
@@ Three economic policies were introduced in India in 1991.....
@@ These are also called LPG policies which are as follows.....
------>>>> Liberalisation.....
In this all the restrictions from the private sector has been removed and these enterprises are free to choose their work and technology....
------>>>> Privatization.......
In this all the sectors having public control were transferred to private sector from the motive of high GDP growth......
------>>>> Globalization........
In this Indian economy was integrated with the economies of other countries in terms of free trade policies....
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