What are the advantages and disadvantages of New Economic Policy?
Answers
Answer:
new economic policies are as follows
LPG
L liberalisation
P privatisation
G globalization
Explanation:
advantages:
liberalisation advantages-de licensing industries
- poverty reduction
- increased in employment
disadvantages-loss in domestic unit
-unbalanced economy
- more dependent on foreign product
privatisation advantage-better management
-foreign direct investment was started. -improved performance
dis advantages- bad industrial relation. - opposition from employees ,financial problems, corruption
globalization.advantages -Access of new market new technology
- low cost product are available
disadvantages-lack of local business. -unequal economic growth
hope this was helpful.