Question

What do you mean by economic reforms in business environment?

Answer 1

hey!!

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MEANING:-

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Economic reform quite simply is reducing the degree to which the government controls the economy.

• However, an economic reform isn’t something that happens everyday. India’s last economic reform happened in 1991. where communications opened up.FDI flowed in real estate prices shot up etc.

• While India isn’t currently going through any economic reforms Prime Minister Narendra Modi has mentioned on multiple occasions the phrase Minimum Government Maximum Governance .

• He is quoted in Swarajya Magazine explaining what he means The end objective of Minimum Government Maximum Governance is to make the lives of people hassle free often by removing the hindrances a government can create and to let people achieve their full potential.