Question

what was the state of India economy when privatization was announced in india​

Answer 1

Answer:

The New Industrial Policy of 1991 contained several reform measures for the public sector. ... Privatization in the country was launched mainly to enhance the efficiency of the public sector enterprises as well as to concentrate the operation of the public sector in priority areas.

Answer 2

Explanation:

The country is in the midst of a deepening slowdown amid waning consumption -- the bedrock of the $2.7 trillion economy. And while Modi has targeted transforming India into a $5 trillion economy by 2025