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Liberalisation, Privatisation And Globalisation : An Appraisal
What is the performance of Indian economy during reforms period?
India has benefitted from the process of economic reforms and liberalisation. The rate of economic growth is now predicted to be about 8% per year compared to 3-4% in the last decade. India's total foreign exchange reserve is increasing. Now India is a successful exporter in autoparts, engineering goods, information technology, software and textiles.
The table below shows that GDP growth rate is increasing. Agricultural growth rate has gone down : Service sector has developed by 7.8%.
Table 3.2 : Growth of GDP in %
|
Sector (Ninth Plan) |
1980-81 to 1990-91 |
1992-93 to 2000-01 |
1997-2002 |
|
Agriculture |
3.6 |
3.3 |
2.1 |
|
Industry |
7.1 |
6.5 |
4.5 |
|
Services |
6.7 |
8.2 |
7.8 |
|
GDP |
5.6 |
6.4 |
5.4 |
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Before 1991, MRTP Act inhibited the growth of industries. How?
State the steps taken by the government towards liberalisation under the New Economic Policy.
What is the meaning of disinvestment of Public Sector Units?
What does foreign direct investinent mean?
What does fiscal deficit indicate?
How did the government promote exports before 1991?
When was new economic policy adopted?
What was the level of foreign exchange reserves in 1991?
State the reasons for slow growth of private sector before 1991.
Discuss the industrial policy of 1991. How is it different from earlier policies?
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