Question

What is meant by economic reform?​

Answer 1

Explanation:

Economic reform" usually refers to deregulation, or at times to reduction in the size of government, to remove distortions caused by regulations or the presence of government, rather than new or increased regulations or government programs to reduce distortions caused by market failure.

Answer 2

Answer:

Economic reforms in India refer to the structural adjustments that were initiated in 1991 with the aim of liberalising the economy and to accelerate its rate of economic growth. ... The important features of the economic reforms were Liberalisation, Privatisation and Globalisation, popularly known as LPG.