Question

Why were economic reforms implemented ?
Write in points. ​

Answer 1

Answer:

1) The poverty ratio in rural areas and in urban areas declined.

2)There was an increase in air travel and expansion in the civil aviation sector due to reforms.

3)In order to promote competition, the government adopted the Open Skies Policy (through which private players were allowed into aviation sector) in 1991.

Answer 2

Industrial Policy Reforms: In order to consolidate the gains already achieved during the 1980s, and to provide greater competitive stimulus to the domestic industry, a series of reforms were introduced in the Industrial Policy. ... The new policy reduced the number of areas reserved from 17 to 8.