Why are the 1991 economic reforms introduced in india since?
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Heya....
Economic reforms were introduced in India in 1991...
With the name of LPG Policies ...
Liberalisation
Privatization
Globalization
Because....
* Fiscal deficit....
India's budget was suffering from deficit because it's expenditures were excess over revenue....
* Gulf crises....
Due to high prices of crude oil that have to import from Iran it was loosing our power of other imports....
* Corruption of public sector....
In public sector people used to do corrupted work and lazy too so for rapid growth it was important..
Economic reforms were introduced in India in 1991...
With the name of LPG Policies ...
Liberalisation
Privatization
Globalization
Because....
* Fiscal deficit....
India's budget was suffering from deficit because it's expenditures were excess over revenue....
* Gulf crises....
Due to high prices of crude oil that have to import from Iran it was loosing our power of other imports....
* Corruption of public sector....
In public sector people used to do corrupted work and lazy too so for rapid growth it was important..
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