The document discusses India's economic liberalization policies that began in 1991. It aimed to reduce government regulations and interference in business to promote competition and private sector growth. Key reforms included deregulating industries, opening the economy to foreign trade and investment, reforming taxes and financial systems. The goals were to boost economic efficiency and potential by developing private industry and global markets. The document outlines the major reforms across industrial, financial, tax, foreign exchange, and trade policies. It also discusses both positive impacts like increased investment and growth, as well as some negative impacts such as increased competition and job disruption.
Analysis of India's Economic liberalization with a focus on Challenges ahead. The harder more politically controversial reforms that are needed to get India on a 10% growth path
Analysis of India's Economic liberalization with a focus on Challenges ahead. The harder more politically controversial reforms that are needed to get India on a 10% growth path
Liberalization, Privatization, Globalization (Six Thinking Hat Technique) Syril Thomas
Six Thinking Hats is a system which describes a tool for group discussion and individual thinking involving six colored hats. "Six Thinking Hats" and the associated idea parallel thinking provide a means for groups to plan thinking processes in a detailed and cohesive way, and in doing so to think together more effectively.
In the further slides me and my team members will be explaining L.P.G (i.e. Liberalization, Privatization and Globalization) using the Six Thinking Hat Technique. The team would be more focusing on India and brushing up some parts of the world in our presentation.
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Liberalization privatization and globalization LPG 1991 Shruti Kumari
Liberalization, Privatization and Globalization in India. The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model.
The New Economic Policy -1991
Liberalisation
Privatisation
Globalisation
Picture gallery
Liberalization, Privatization and Globalization in India. The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model.
Liberalization, Privatization, Globalization (Six Thinking Hat Technique) Syril Thomas
Six Thinking Hats is a system which describes a tool for group discussion and individual thinking involving six colored hats. "Six Thinking Hats" and the associated idea parallel thinking provide a means for groups to plan thinking processes in a detailed and cohesive way, and in doing so to think together more effectively.
In the further slides me and my team members will be explaining L.P.G (i.e. Liberalization, Privatization and Globalization) using the Six Thinking Hat Technique. The team would be more focusing on India and brushing up some parts of the world in our presentation.
Just sharing my efforts makes me feel happy and self-satisfied. Feel free to use my works as your project work at school.
Contact me at @ashmitg132@gmail.com
Liberalization privatization and globalization LPG 1991 Shruti Kumari
Liberalization, Privatization and Globalization in India. The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model.
The New Economic Policy -1991
Liberalisation
Privatisation
Globalisation
Picture gallery
Liberalization, Privatization and Globalization in India. The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model.
Liberalization is a very broad term that usually refers to fewer government regulations and restrictions in the economy.
Privatization means transfer of ownership and/or management of an enterprise from the public sector to the private sector .It also means the withdrawal of the state from an industry or sector partially or fully.
Globalization implies integration of the economy of the country with the rest of the world economy and opening up of the economy for foreign direct investment by liberalizing the rules and regulations and by creating favorable socio-economic and political climate for global business.
Libralization, Privatization and GlobalizationKuneeka
India made LPG reforms in 1991. LPG reforms are also known as liberalisation, privatisation and globalisation reforms. They have transformed the way India as an economy works and opened the country up to the world for trade and commerce.
Get to know more about with the help of above PDF.
Its about economics reforms that were introduced in 1991.
why such reforms were needed ?
what was situation at that time ?
what were the achievement and limitations of economic reforms ?
LPG stands for Liberalization, Privatization, and Globalization. India under its New Economic Policy approached International Banks for the development of the country. These agencies asked the Indian Government to open its restrictions on trade done by the private sector and between India and other countries.
Book Formatting: Quality Control Checks for DesignersConfidence Ago
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It is beyond a moot point that a good book will somewhat be judged by its cover, but the content of the book remains king. No matter how beautiful the cover, if the quality of writing or presentation is off, that will be a reason for readers not to come back to the book or recommend it.
So, this presentation points designers to some important things that may be missed by an editor that they could eventually discover and call the attention of the editor.
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Expert Accessory Dwelling Unit (ADU) Drafting ServicesResDraft
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Can AI do good? at 'offtheCanvas' India HCI preludeAlan Dix
Invited talk at 'offtheCanvas' IndiaHCI prelude, 29th June 2024.
https://www.alandix.com/academic/talks/offtheCanvas-IndiaHCI2024/
The world is being changed fundamentally by AI and we are constantly faced with newspaper headlines about its harmful effects. However, there is also the potential to both ameliorate theses harms and use the new abilities of AI to transform society for the good. Can you make the difference?
Hello everyone! I am thrilled to present my latest portfolio on LinkedIn, marking the culmination of my architectural journey thus far. Over the span of five years, I've been fortunate to acquire a wealth of knowledge under the guidance of esteemed professors and industry mentors. From rigorous academic pursuits to practical engagements, each experience has contributed to my growth and refinement as an architecture student. This portfolio not only showcases my projects but also underscores my attention to detail and to innovative architecture as a profession.
You could be a professional graphic designer and still make mistakes. There is always the possibility of human error. On the other hand if you’re not a designer, the chances of making some common graphic design mistakes are even higher. Because you don’t know what you don’t know. That’s where this blog comes in. To make your job easier and help you create better designs, we have put together a list of common graphic design mistakes that you need to avoid.
Between Filth and Fortune- Urban Cattle Foraging Realities by Devi S Nair, An...Mansi Shah
This study examines cattle rearing in urban and rural settings, focusing on milk production and consumption. By exploring a case in Ahmedabad, it highlights the challenges and processes in dairy farming across different environments, emphasising the need for sustainable practices and the essential role of milk in daily consumption.
2. LIBERALIZATION
• Liberalization refers to the slackening of government regulations. The economic
liberalisation in India denotes the continuing financial reforms which began since
July 24, 1991. orin other words you can say that Liberalization means elimination
of state control over economic activities.
• It implies greater autonomy to the business enterprises in decision-making and
removal of government interference. It was believed that the market forces of
demand and supply would automatically operate to bring about greater efficiency
and the economy would recover.
• This was to be done internally by introducing reforms in the real and financial
3. OBJECTIVES
• To boost competition between domestic businesses
• To promote foreign trade and regulate imports and exports
• Improvement of technology and foreign capital
• To develop a global market of a country
• To reduce the debt burden of a country
• To unlock the economic potential of the country by encouraging the private sector and
multinational corporations to invest and expand.
• To encourage the private sector to take an active part in the development process.
• To reduce the role of the public sector in future industrial development.
4. REFORMS UNDER LIBERALIZATION
• Deregulation of the Industrial Sector
• Financial Sector Reforms
• Tax Reforms
• Foreign Exchange Reforms
• Trade and Investment Policy Reforms
• External Sector Reforms
• Foreign Exchange Reforms
• Foreign Trade Policy Reforms
5. ECONOMIC REFORMS DURING
LIBERALIZATION
Several sectors were affected by the outburst of the impact of
Liberalization. Few economic reforms were:
• Financial Sector Reforms
• Tax Reforms / Fiscal Reforms
• Foreign Exchange Reforms / External Sector Reforms
• Industrial Sector Reforms
7. FINANCIAL SECTOR REFORMS
• Establishment of private sector bank: The basic purpose of adopting
this policy is to increase competition which ultimately leads to lower
rate of interest and good quality of service.
• Changing the role of RBI: the role of RBI is now changed from
regulator to faclator of financial sector which means financial sector
can take decisions without consulting RBI.
• Foreign Investment limit: In banks it was increased upto 51% i.e.,
foreign investors are allowed to invest in Indian Financial Markets.
• Ease of Expansion: Banks were given freedom to set up new
branches and rationalize existing branches without any approval of
RBI.
8. FISCAL REFORM OR TAX REFORM
• Reduction in Direct taxes: the rate of direct taxes is reduced so
that it encourages the citizen to promote saving and voluntary
disclosure of saving.
• The government also regulate and reduce the rate of indirect tax, so
that a common national market for goods and services can be
established
• The process of taxation is also simplified so that a common man
can easily understand the structure
10. TRADE AND INVESTMENT REFORM
• Reduction in quota (up to a maximum limit)
• Removal of Export duty
• Reduction of Import duty
• Import licensing was abolished except in case of
hazardous and environmental sensitive industries
11. IMPACTS OF LIBERALIZATION ON
INDIA
Positive impacts of liberalisation in India
1) Free flow of capital: Liberalisation has improved flow of capital into the country
which makes it inexpensive for the companies to access capital from investors.
Lower cost of capital enables to undertake lucrative projects which they may not
have been possible with a higher cost of capital pre liberalisation, leading to higher
growth rates.
2) Stock Market Performance: Generally, when a country relaxes its laws, taxes, the
stock market values also rise. Stock Markets are platforms on which Corporate
Securities can be traded in real time. Impact of FDI in Banking sector: Foreign
12. 3) Political Risks Reduced: Liberalisation policies in the country lessens political
risks to investors. The government can attract more foreign investment through
liberalisation of economic policies. These are the areas that support and foster a
readiness to do business in the country such as a strong legal foundation to
settle disputes, fair and enforceable laws.
4) Diversification for Investors: In a liberalised economy, Investors gets benefit by
being able to invest a portion of their portfolio into a diversifying asset class.
5) Impact on Agriculture: In the area of agriculture, the cropping patterns has
undergone a huge modification, but the impact of liberalisation cannot be properly
measured. It is observed that there are still all-pervasive government controls and
13. Negative impacts of liberalisation in India
1) Destabilization of the economy: Tremendous redistribution of economic power and political power
political power leads to Destabilizing effects on the entire Indian economy. Threat from Multinationals:
from Multinationals: Prior to 1991 MNC’s did not play much role in the Indian economy. In the pre-
economy. In the pre-reform period, there was domination of public enterprises in the economy. On
the economy. On account of liberalisation, competition has increased for the Indian firms. Multinationals
firms. Multinationals are quite big and operate in several countries which has turned out a threat to local
turned out a threat to local Indian Firms.
2) Technological Impact: Rapid increase in technology forces many enterprises and small scale industries
small scale industries in India to either adapt to changes or close their businesses.
14. 3) Mergers and Acquisitions: Acquisitions and mergers are increasing
day-by-day. In cases where small companies are being merged by big
companies, the employees of the small companies may require
exhaustive re-skilling. Re-skilling duration will lead to non-productivity
and would cast a burden on the capital of the company.
4) Impact of FDI in Banking sector: Foreign direct investment allowed in
the banking and insurance sectors resulted in decline of government’s
stake in banks and insurance firms.