Question

write an essay on the
economic
changes initiated by the government
under the Industrial policy of
1991.​

Answer 1

Answer:

Explanation:

The strategy of reforms introduced in India in July 1991 presented a mixture of macroeconomic stabilization and structural adjustment. It was guided by short-term and long-term objectives. Stabilization was necessary in the short run to restore balance of payments equilibrium and to control inflation. At the same time changing the structure of institutions themselves through reforms was equally important from long term point of view.

The new government moved urgently to implement a programme of macroeconomic stabilization through fiscal correction. Besides this, structural reforms were initiated in the field of trade, industry and the public sector.

Answer 2

ANSWER

conomic reforms 1991

The year 1991 has a special significance in the Indian economy. Many economic measures were introduced to achieve the objectives of new economic policies of the government. The economic reforms aimed at rapid industrialization. For this, the abolition of industrial licensing, allowing foreign investment, encouragement to the private sector and coexistence of public sector and private sector were taken by the Government.....

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