Question

why the need for economic reforms arisen India​

Answer 1

Explanation:

Economic reforms led to a sudden glut of major private players. The government-owned companies had to tidy up their act. A pressing reason for the reforms as to ensure that the Indian Banking Sector did not collapse. There were no private banks, and all the people's savings and earnings were put in PSU banks.

Answer 2

Answer:

Economic reforms led to a sudden glut of major private players. The government-owned companies had to tidy up their act. A pressing reason for the reforms as to ensure that the Indian Banking Sector did not collapse. There were no private banks, and all the people's savings and earnings were put in PSU banks.