what are the policies government should adopt to fair globalisation
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1) br removing unwanted trade barrier.
2)by making law and policy According to there need.
2)by making law and policy According to there need.
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1> Import Liberalization:
For liberalizing foreign trade, import controls through licensing was abolished.
2>Imports of Gold and Silver:
Imports of Gold and Silver have been considerably liberalized. This reduced the incentive for smuggling. In Jan. 2004 imports of gold were made free from any commission charged for it.
3> Market-Determined Exchange Rate:
An important measure in external sector was to devalue the rupee in July 1991 and after about 2 years in 1993 exchange rate was changed from basket based pegged exchange rate system to market-determined exchange rate. With this the exchange rate of the rupee today is determined by demand and supply conditions in the foreign exchange markets.
4> Convertibility of Rupee:
Another important reform for globalizing the Indian economy was the convertibility of rupee on balance of payments on current account. This implies the importers can get their required quantity of foreign exchange by converting their rupee resources into dollars from the foreign exchange market. The exporters do not have to surrender their foreign exchange (US dollar or EU Euro) earned abroad to RBI but can now sell them in the foreign exchange markets.
5> Liberalisation of Foreign Investment:
For liberalizing foreign trade, import controls through licensing was abolished.
2>Imports of Gold and Silver:
Imports of Gold and Silver have been considerably liberalized. This reduced the incentive for smuggling. In Jan. 2004 imports of gold were made free from any commission charged for it.
3> Market-Determined Exchange Rate:
An important measure in external sector was to devalue the rupee in July 1991 and after about 2 years in 1993 exchange rate was changed from basket based pegged exchange rate system to market-determined exchange rate. With this the exchange rate of the rupee today is determined by demand and supply conditions in the foreign exchange markets.
4> Convertibility of Rupee:
Another important reform for globalizing the Indian economy was the convertibility of rupee on balance of payments on current account. This implies the importers can get their required quantity of foreign exchange by converting their rupee resources into dollars from the foreign exchange market. The exporters do not have to surrender their foreign exchange (US dollar or EU Euro) earned abroad to RBI but can now sell them in the foreign exchange markets.
5> Liberalisation of Foreign Investment:
Anonymous:
too long
abhi 2 page to baki hey.........
han rhne doh
nai toh kuch ho gya toh kya hoga MR.
kya hoga ms.........
soch lo brain nai h kya...hehe
hmmm............
yd
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