Question

what were the reason behind adopting economic reforms during decade of 1990? perform a detailed analysis​

Answer 1

The following are the reasons for economic reforms:

(i) Rise in Prices:

(ii) Rise in Fiscal Deficit:

(iii) Increase in Adverse Balance of Payments:

(iv) Iraq War:

(v) Dismal Performance of PSU's (Public Sector Undertakings):

(vi) Fall in Foreign Exchange Reserves.