prepare a seminar paper on new economic policy in 1991 in malayalam
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Explanation:
The New Economic Policy of 1991 included standard structural adjustment measures including the devaluation of the rupee, increase in interest rates, reduction in public investment and expenditure, reduction in public sector food and fertilizer subsidies, increase in imports and foreign investment in capital-intensive Here we detail about the seven important features of new economic policies under economic reforms, i.e., (1) Liberalisation, (2) Privatisation, (3) Globalisation of the Economy, (4) New Public Sector Policy, (5) Modernisation, (6) Financial Reforms, and (7) Fiscal Reforms.Before 1991, bribes were needed for industrial licenses, import licenses, foreign exchange allotments, credit allotments, and much else. But economic reform ended industrial and import licensing, and foreign exchange became freely availableECONOMIC REFORMS OF 1991 The immediate factor that triggered India's economic reforms of 1991 was a severe balance of payments crisis that occurred in the same year. The first signs of India's balance of payments crisis became evident in late 1990, when foreign exchange reserves began to fall.Liberalisation refers to end of licence, quota and many more restrictions and controls which were put on industries before 1991. Indian companies got liberalisation in the following way: (a) Abolition of licence except in few. (b) No restriction on expansion or contraction of business activities. 1991, Singh as Finance Minister, freed India from the Licence Raj, source of slow economic growth and corruption in the Indian economy for decades. He liberalised the Indian economy, allowing it to speed up development dramatically.