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Why did the New Economic Policy emphasize a shift towards private sector?
It emphasized a shift towards private sector because public sector undertaking were not forming well and a number of them were running into losses.
Why was the rate of growth of private sector industries slow before 1991?
The rate of growth of private sector industries was slow before 1991 because restrictions and strict regulations were hindering the growth of private sector industries.
What were the reasons behind incompetence of many Indian products and industries before 1991?
The reason was the protection of domestic industries from foreign competition.
Before 1991 why did India face a serious balance of payment problem?
India had to face the serious balance of payment position because imports were more than exports.