The following points highlight the four major economic reforms under new economic policy of India since 1991. Reform 1# De-Reservation of Industries of the Public Sector: The new industrial policy 1991 has been adopted under which far-reaching structural reforms have been initiated to lift excess direct controls and regulations on industries and to ensure a free-market oriented economic system. The [...]
Here we detail about the ten elements of Washington consensus in new economic policy. The ten elements are: (1) Fiscal Adjustment, (2) Tax Reforms, (3) Deregulation, (4) Privatisation, (5) Trade Liberalisation, (6) Competitive Exchange Rate, (7) Removal of Barriers to Foreign Investment, (8) Financial Reforms, (9) Protection of Property Rights, and (10) Redirection of Public Sector Investment. Element 1# Fiscal [...]
Here we detail about the ten major economic policies which are followed in India and has played a major role in the growth of Indian economy. And , the policies are: (1) Industrial Policy, (2) Trade Policy, (3) Monetary Policy, (4) Fiscal Policy, (5) Indian Agricultural Policy, (6) National Agricultural Policy, (7) Industrial Policies, (8) International Trade Policy, (9) Exchange [...]