Question

it refers to all those different economic reforms or policy measures and changes which aim at increasing the productivity and efficiency by creating an environment of competition in the economy..

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Answer 1

Answer:

Economic reforms were introduced by the Government of India in July 1991. The reform process has completed 17 years. It would, therefore, be both interesting and instructive to make an overall assessment of the reform process so as to ascertain whether the country is moving in the right direction, or, to terminate the reform process altogether.

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Answer 2

In this question, we need to answer what refers to all those different economic reforms or policy measures that aim at increasing productivity and efficiency by creating an environment of competition in the economy.

• New Economic Policy refers to all those different economic reforms or policy measures and changes that aim at increasing productivity and efficiency by creating an environment of competition in the economy.
• New Economic Policy refers to economic liberalization or relaxation in the import tariffs, deregulation of markets or opening the markets for private and foreign players, and reduction of taxes to expand the economic wings of the country.
• The main aim to introduce this policy was to globalize the market.
• It aimed to bring down the rate of inflation.
• It aimed to build economic growth and make foreign exchange reserves.

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