By Readers Material

Economic Policy Changes in India

Economic Policy Changes in India

India’s economic landscape has witnessed significant shifts since 1991. The adoption of liberalization, privatization, and globalization marked a turning point, propelling rapid economic development.

Economic Policy Changes in the Industrial Sector

01

New Industrial Policy of 1991

India’s new industrial policy was announced on July 24, 1991. This policy promoted privatization and deregulation by reducing controls.

Contraction of Public Sector

Privatization or Expansion of Private Sector

Relaxation from Monopolies Act

Deregulation of Liberalization of License and Registration

Foreign Direct Investment

Foreign Technology Agreement

1.

2.

3.

4.

5.

6.

02

Foreign Trade Policy

The Foreign Trade Policy aimed to expand markets by liberating foreign trade from restrictions.

03

Fiscal Policy Reform

Fiscal policy, governing government income and expenditure, underwent significant change

04

Monetary Policy Overhaul

The Reserve Bank, as the custodian of monetary policy, implemented measures to

“Economic Policy Changes in India since 1991”