What do you mean by economic reforms?

Solution

By economic reforms we mean a change in the set of policies from one period to another.

Question

When was economic reform programme introduced in the Indian economy?

Solution

The economic reforms programme was introduced in the Indian Economy in 1991.

Question

Solution

The components of new economic policy are (i) Liberalisation, (ii) Privatisation and (iii) Globalisation.

Question

Solution

The main aim of new economic policy is to make our production units more efficient and highly productive.