By Readers Material
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.
01
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
02
The Foreign Trade Policy aimed to expand markets by liberating foreign trade from restrictions.
03
Fiscal policy, governing government income and expenditure, underwent significant change
04
The Reserve Bank, as the custodian of monetary policy, implemented measures to