The document discusses India's economic crisis in 1991 which prompted the need for a new economic policy. The new policy featured privatization, globalization, fiscal reforms, financial reforms, liberalization, and modernization to increase productivity and efficiency. Globalization aimed to reduce trade barriers and allow free flow of capital and technology. Liberalization freed the economy from government controls and allowed private sector growth. Privatization aimed to increase efficiency and competitiveness.

1. Mukesh Kumar

2.  Economic crisis 1991
 Low Foreign Exchange reserve
 Increased in National debt (Budget deficit)
 Reduced competition
 To increase productivity and efficiency of the economy
Need of a new Economic Policy

3. Features of New
Economic
Policy-
.
Economic
Policy
Privatization
Globalization
Of Economy
Fiscal
Reforms
Financial
Reforms
Modernization
Liberalization

4. A process associates with increasing openness, growing economic
independence and deepening integration in the world economy
Objectives-
Reduction of trade barriers
Free flow of capital
Free flow of technology
 Globalization

5. Market forces could guide economy in more effective manner than
government control
To free the Economy from various kind of Direct and Indirect controls of
Government
Abolition of industrial licensing and registration
Increase in the investment limit
Liberalization-

6. Allowing private sector to set up more industries that were previously
reserved for public sector
Objective-
To increase efficiency and competitive power of enterprises
To strengthen industrial management
To earn more foreign currency
To achieve rapid industrial development in the country
To use optimum use of resources
 Privatization