Indian economic policy reforms since 90'sPresentation Transcript
Economic Reforms since 90’s By, Parth Purohit-DurvaShastri
Agenda Introduction Major Causes Role Of ManmohanSingh Major economic reforms Significant Consequences Various Sectors Affected Conclusion
Introduction The term ‘economic reforms’ refers to policy reforms undertaken by the central govt. since 1990 to attain certain significant achievementsthrough the main approaches which are as follows: Stabilization Restructuring Globalization
Major Causes Increase in fiscal deficit Deficit in Balance of Payment External Borrowings Mounting Inflation Rate Failure of the public sector Industrial licensing policies Gulf Crisis
Role Of Manmohan Singh Wide ranging tax reforms Containment of defence equipment Cuts in fertilizers Inward oriented trade policy Exchange rate devalued
Major Economic Reforms Fiscal Reforms: Reducing the Fiscal Deficit Banking Sector Import Licensing Export Orientation Tax Reforms Direct Tax Indirect Tax Resource Generation through Divestment Structural Economic Reforms Reorientation of Planning
Banking Reforms Changing in rate SLR and CRR Entry of Public and Private Sector in capital market Operational Flexibility Relaxation in Licensing of Private Bank Improve standard of supervision , audit and technology Interest rate deregulation and financial repression.
Industrial Reform Industrial licensing Foreign Technology MRTP limit Technological Development Development of small scale industries Right of Labor Foreign Investment Self reliance
The Next Generation Reforms Political Reforms for Good Governance Re-engineering the Role of the government Administrative and Legal Reforms Strategic Management of the Economy with a focus on knowledgebase Fiscal Prudence Agricultural Sector Reforms Industrial Restructuring Labour Sector Reforms Foreign Trade and Outward Investment Policies Financial Sector Reforms
Significant Consequences Higher rate of growth Rapid growth of secondary and tertiary Sectors Increase in Export and Imports Improved Balance of Payments Rise in value of Rupee Less reliance on foreign borrowings Overall development of Indian economy
Various Sectors Affected
Sector Wise Growth Rate
Indicators Of External Sector
Balance Of Payment
WPI Inflation Rate
Foreign Exchange Reserves
Macro economic Indicators
Reforms have put the Indian economy on a higher growth path.
Equally important to resolve the immediate liquidity problem.
To restore the economy on the path of rapid and healthy economic growth.
Bibliography Ministry Of finance Vikalpa- The Journal for Decision Makers Books Referred; Indian economy reforms Since 1990 Indian economy since 1945 Indian Economy Indian Economic crises Role of Manmohansingh in Economic reforms www.Wikipidia.com www.Google.com www.planningcommision.gov.in www.rbi.org.in www.slideshare.com www.sribd.com