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1. PRESENTED BY :-
ADHIRAJ SINGH
SAGAR
AMIT YADAV
AFTAB
Akash Gahlot
2. WHAT IS NEW ECONOMIC POLICY
1991?
It refers to ongoing economic
liberalisation or relaxation started
in 1991 of the countries economic
policies
It was introduced with the goal of
making the economy more
market-oriented and expanding
the role of the private and foreign
investment.
4. Reasons for implementing LPG
• Large and growing fiscal imbalances.(Gross fiscal deficit rose to
12.1% of GDP in 1991)
• Growing inefficiency in the use of resources.
• Low foreign exchange reserves.
• High inflation rate
• The low annual growth rate of Indian economy stagnated around
3.5% from 1950s to 1980s, while per capita income averaged
1.3%.
5. LIBERALISATION
The first aspect of new economic policy was
liberalisation
Liberalisation of an economy means removing
or relaxing government controls and
restrictions on economic activities
Relief for foreign invertors
Revaluation of Indian Currency
New Industrial Policy
New Trade Policy
Import Technology
Encouraging foreign tie-ups
Privatisation in Public Sector
6. POSITIVE EFFECTS
Increase in foreign investment
Increase in Production
Technological advancement
Increase in GDP growth rate
NEGATIVE EFFECTS
Increase in Unemployment
Decrease in Tax Receipt
7. The transfer of ownership property pr business from
the government to the private sector is termed
privatization.
Increasing inefficiency on part of public sector led to
privatization
Forms of Privatization :-
Decentralization
Joint Venture
Leasing
Franchising
8. POSITIVE EFFECTS
Private companies cut cost and
be more efficient
Increased competition
More Responsive to customer
complaints
NEGATIVE EFFECTS
Lack of welfare
Ignore the weaker section
Privatisation is expensive
IMPACTS OF PRIVATISATION
9.
10.
11. GLOBALISATION
Globalisation means reduction or
removal of government restriction on
the movement of goods and service,
capital, technology and talent across
national boundaries.
It is the increasing interdependence,
integration and interaction among
people and cooperation in various
locations around the world.
12. POSITIVE EFFECTS
Expansion of market
Development of infrastructure
Higher living standards
NEGATIVE EFFECTS
Cut throat competitions
Rise in Monopoly
Take over of Domestic Firms
IMPACTS OF GLOBALISATION
13. Impact of NEP 1991 on Indian Economy
14-10-2016 13Economic Policy 1991
a) Increasing Competition
b) More Demanding Customers
c) Rapidly Changing Technological
Environment
d) Necessity for Change
e) Need for Developing Human Resources
f) Market Orientation
14. Foreign Direct Investment
Foreign direct investment (FDI) is a direct investment into
production or business in a country by an individual or company
in another country, either by buying a company in the target
country or by expanding operations of an existing business in
that country.
15. FDI in India
FDI caps in various sectors:
• Defence 26%
• Insurance 49% (earlier 26%)
• Telecom 100% (earlier 74%)
• Single brand retailing 100%
• Multi brand retailing 51%
• Civil aviation 49%
16. Multi National Corporation
Multinational corporation (MNC) is a enterprise that manages
production or delivers services in more than one country can also
be referred to as an international corporation.
19. Conclusion
• The advent of globalization as a result of liberalization and
privatization has both positive and negative impacts on our economy.
• While one group of people argue that globalization provides greater
opportunities ,opens up new markets, promotes the use of better
technology and increases the efficiency of production,
• Another group of people feel it does not protect the domestic
industries particularly in developing nations.
• From India’s perspective ,it has improved our condition of living and
opened up employment in field like entertainment ,IT
,telecommunication, travel and hospitality .