Question

what is economic reform?
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Answer 1

Answer:

Economic reforms in India refer to the neo-liberal policies introduced by the Narsimha-Rao government in 1991 when India faced a severe economic crisis due to external debt. This crisis happened largely due to inefficiency in economic management in the 1980s.

Explanation:

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Answer 2

Answer:

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Explanation:

it refers to deregulation or at times to reduction in the size of government, to remove distortion caused by regulation or the presence of government rather than new or increased regulation or government programs to reduce distortion caused by market failure.