Question

List the impacts of new economic policy in 1991

Answer 1

POSITIVE EFFECTS:

1.Increases Production

2.Diversification of Cropping Pattern

3.Better Price

4.Increased Exports

NEGATIVE EFFECTS:

1.Lack of Self-Sufficiency

2.Price Stability

3.Affects Poor Farmers

4.Entry of MNCs

IMPACT ON INDUSTRIES

Industrialization through import substitution and public sector production with emphasis on heavy industry has been a very important objective of our planning for development. In particular an important distinction was made among industries to be developed exclusively by the public sector, those reserved for the private sector, and those open to development by either or both sectors