20. Decline in POL imports was more than by a big hike in non-POL imports as a consequence of import liberalization. Consequently, huge trade balance. -5935 9051 14,986 1980-85 Significant increase in export during every year of this period.Export of coffee,tea,cotton fabrics etc.recorded substantial increase in this period. But,Janta Government followed policy of haphazard import liberalization results decline trade balance from 1977-78. -810 4730 5540 1974-79 Trade Bal. (Cr.) Export (Cr.) Import (Cr.) Year
21. In 1990-91,push was given to export,but as a consequence of Gulf war government failed to curb imports. In1991-92, government introduced number of measures in trade policy allowing exim scripts,abolishing cash compensatory support(CCS) schemes as also a two-step devaluation of the rupee,but fail to boost up export. -7222 38,300 45,522 1990-92 Huge trade balance compelled the government to approach the World Bank/IMF for loan. The government was also forced to apply brakes on the licensing policy of imports. -10,841 18,033 28,874 1985-90 Trade Bal. (Cr.) Export (Cr.) Import (Cr.) Year
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