Question

What was the effect of economic reforms on small and cottage industries?

Answer 1

${\texttt{\huge{\purple{ANSWER :-}}}}$

The salient features of NEP-1991 are

(i) liberalization (internal and external),

(ii) extending privatization,

(iii) redirecting scarce Public Sector Resources to Areas where the private sector is unlikely to enter,

(iv) globalization of economy, and

(v) market friendly state.