Question

WRITE THE ADVANTAGES OF ECONOMIC REFORMS OF 1991.​

Answer 1

Answer:

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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Answer 2

Poverty reduced from 36 percent in 1993-94 to 26.1 percent in 1999-00. The poverty ratio in rural areas and in urban areas declined.

There was an increase in air travel and expansion in the civil aviation sector due to reforms. In order to promote competition, the government adopted the Open Skies Policy (through which private players were allowed into aviation sector) in 1991. The results of this policy are visible today with private players in the domestic aviation market as well as the international markets.