"Foreign exchange crisis was the basis of economic policies of liberalisation, privatisation and Globalisation". Justify.
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Answer:
I don't know but try my best
Answer:
The LPG reforms include Liberalization, Privatization, and Globalization. These are measures undertaken to improve the economic condition of a country. These reforms were initiated by the Indian government in 1991 under the New Economic Policy.
Explanation:
What is the impact of liberalization privatization and Globalization on Indian economy?
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Impact of LPG on Indian Economy Positive Impact of LPG on Indian Economy: Increase in GDP growth rate India's GDP growth rate was only 1.1% during 1990-91 but after 1991 reforms India achieved 6-7% average GDP growth rate and now India is the world's fastest-growing major economy.
Liberalisation: Liberalisation of the economy means its freedom from direct or physical controls imposed by the government. Privatisation: It is the general process of involving the private sector in the ownership or operation of a state-owned enterprise.
Privatisation of the public sector undertakings by selling off parts of the equity of PSUs to the private sector is known as disinvestment. The purpose of the sale is mainly to improve financial discipline and facilitate modernisation.
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