What is the role of economic policies in environmental management?
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The new economic policy of India would refer to the economic reforms and liberalisation that have been undertaken by the Government of India since 1991. The reforms were precipitated by a balance of payments crisis faced by the Indian economy due to dwindling foreign exchange reserves in the aftermath of the Gulf War in 1990. This left India in danger of defaulting on its loans. The reform measures that were adopted included the following;
Progressive lowering of tariffs, duties and taxes.
State monopoly over certain sectors was ended and private participation was encouraged in many new sectors.
Regulations governing foreign investment were liberalised allowing for inflow of funds into the country through institutional investors.
Protectionist policies were abandoned and globalisation was embraced.
The new economic policy of India would refer to the economic reforms and liberalisation that have been undertaken by the Government of India since 1991. The reforms were precipitated by a balance of payments crisis faced by the Indian economy due to dwindling foreign exchange reserves in the aftermath of the Gulf War in 1990. This left India in danger of defaulting on its loans. The reform measures that were adopted included the following;
Progressive lowering of tariffs, duties and taxes.
State monopoly over certain sectors was ended and private participation was encouraged in many new sectors.
Regulations governing foreign investment were liberalised allowing for inflow of funds into the country through institutional investors.
Protectionist policies were abandoned and globalisation was embraced.
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