Question

How lpg policy helped the indian economy towards globalisation?

Answer 1

Answer:

LPG stands for Liberalization, Privatization, and Globalization. India under its New Economic Policy approached International Banks for development of the country. These agencies asked Indian Government to open its restrictions on trade done by the private sector and between India and other countries.

Answer 2

$\mathbb{ANSWER}$

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Policy measures towards Globalisation :-

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1.Partial Convertibility of Rupee :- Indian rupee was allowed to depreciate subsequently. It was made convertable just on trade account and then for the current account transactions.

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2.Foreign Investment :- The government has also liberalized capital flows. It had created oppurtunities for foreign investment with a view to take advantage of technology measures.

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3.Withdrawl of Tariffs :- Tarrifs also been reduced to consolidate the competitiveness of Indian goods in the world Market.

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