Question

let us write the arguments for and against new economic policies​

Answer 1

Answer:

The New Economic Policy introduced by the Government of India since 1991 has been subjected to some arguments in its favour

Explanation:

The new economic policy has failed to correct the macro-economic parameters as it has failed to control the rising trend in prices, check fiscal deficit, control subsidies, controlling non-plan expenditure of the Government etc..

Answer 2

Answer:

Arguments in favour of the New Economic Policy/Economic Reforms:

• Increase in the rate of Economic Growth - According to data, the growth of GDP increased post 1991. ...
• Increase in Unemployment - Though there was a growth in GDP but such growth failed to generate sufficient employment opportunities.

Following are some of the arguments advanced against the New Economic Policy of the country:

(i) The new economic policy has neglected the agricultural sector as compared to that of industry, trade and services sector.

(ii) The policy has introduced the policy of liberalisation and globalisation of the economy under the pressure of World Bank and IMF and leads to complete surrender of the economy to these international