what are the features of economic policy under planning till 1991
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Features of economic policies are - - - under 1991
1) All industries were allowed to free licensing system but except three.. rubber, textile, tea...
2// All industries have freedom to fix prices.
3// All banks were allowed to lend fix rates.
4// Procedure become very simplified and easier..
5// EXPORT SHOULD MAXIMISE AND IMPORT SHOULD LESS .
1) All industries were allowed to free licensing system but except three.. rubber, textile, tea...
2// All industries have freedom to fix prices.
3// All banks were allowed to lend fix rates.
4// Procedure become very simplified and easier..
5// EXPORT SHOULD MAXIMISE AND IMPORT SHOULD LESS .
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Answer:
1991, economic liberalisation was kicked off in India. Licences and permits were done away with in a significant way, the Government began exiting from industrial activity and foreign capital, which was earlier a taboo, was welcomed. Agriculture was the mainstay, but industry began to turn the wheels of our economy.
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