Introduction on development in indian economy since 1991
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The government announced a New Industrial Policy on 24 July 1991. The New Industrial Policy established in 1991 sought substantially to deregulate industry so as to promote growth of a more efficient and competitive industrial economy. ... Industrial licensing was abolished for all projects except in 18 industries
The main objectives behind the launching of the New Economic policy (NEP) in 1991 by the union Finance Minister Dr. Manmohan Singh are stated as follows: 1. The main objective was to plunge Indian Economy in to the arena of 'Globalization and to give it a new thrust on market orientation.
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