why did the government had to introduce new set of policy
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The government announced a New Industrial Policy on 24 July 1991. The New Industrial Policy established in 1991 sought substantially to deregulate industry so as to promote growth of a more efficient and competitive industrial economy. ... With this, 80 percent of the industry was taken out of the licensing framework.
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2
Answer:
The government announced a New Industrial Policy on 24 July 1991. The New Industrial Policy established in 1991 sought substantially to deregulate industry so as to promote growth of a more efficient and competitive industrial economy. ... With this, 80 percent of the industry was taken out of the licensing framework.
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