The document discusses India's transition to a liberalized, privatized, and globalized economy in the 1990s through policies known as LPG. It overviews the reasons for implementing LPG such as fiscal imbalances and low growth. Key aspects of liberalization, privatization, and globalization are described, including removing licensing, increasing foreign investment and trade, and privatizing public sector enterprises. Both advantages like higher growth and disadvantages like unemployment are outlined.
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.
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.
This presentation explains the conditions which led to the introduction of 1991 economic reforms of India, the key features of the reforms and the impact it created on Indian economy.
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
This presentation explains the conditions which led to the introduction of 1991 economic reforms of India, the key features of the reforms and the impact it created on Indian economy.
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
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.
The presentations describes the 1991 Liberalization Privatization Globalization(LPG) model of Indian economy. Following are the topics discussed in the ppt:
Reasons for implementing LPG
Definitions
Advantages
Disadvantages
Disinvestment Commission
Successful privatizations in India
FDI
MNCs
Effects
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.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
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BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
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Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
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where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
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A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
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@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
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The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
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Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
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US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
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how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
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debuts.
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2. INTRODUCTION
The economy of India had undergone significant policy shifts in the beginning of the
1990s.
In July 1991, India has taken a series of measures to structure the economy and improve
the Balance Of Payments position. This new economic policy introduced changes in
several areas.
The policy have salient feature which are: -
1.Liberlisation (internal and external)
2.Extending Privatization
3.Globalisation of the economy
Which are known as “LPG” (Liberlization Privatisation Globalisation)
3. 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.($1.2 billion in January 1991)
High inflation rate.(13.87% in year 1990-91)
Excess of consumption and expenditure over revenue resulting in heavy govt.
borrowings.
The low annual growth rate of Indian economy stagnated around 3.5% from 1950s to
1980s, while per capita income averaged 1.3%.
Increase in losses for public sector enterprises.
4. LIBERALIZATION
• Liberalization refers to the relaxation of the previous government restriction usually in
area of social and economic policies.
• When government liberalized trade , it means it has removed the tariff ,subsidies and
other restriction on the flow of goods and services between the countries.
5. THE PATH OF LIBERALIZATION
• Relief for foreign investors
• Devaluation of Indian rupees
• New industrial Policy
• New trade policy
• Removal of import Restrictions
• Liberalization of NRI remittances
• Freedom to import technology
• Encouraging foreign tie-ups
• Privatization of public sector
6. EFFECTS OF LIBERALIZATION
The fruits of liberalisation reached their peak in 2007, when India recorded its highest
GDP growth rate of 9%.
With this, India became the second fastest growing major economy in the world, next
only to China. The growth rate has slowed significantly in the first half of 2012.
An OECD report states that the average growth rate 7.5% will double in a decade, and
more reforms would speed up the pace.
7. ADVANTAGES OF LIBERALIZATION
• Industrial licensing
• Increase the foreign investment.
• Increase the foreign exchange reserve.
• Increase in consumption and Control over price.
• Check on corruption.
• Reduction in dependence on external commercial borrowings.
• Competition promotes efficiency, so resources are wasted much less
9. PRIVATIZATION
• 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.
• Privatization is opening up of an industry that has been reserved for public sector to the
private sector.
• Privatization means replacing government monopolies with the competitive pressures of
the marketplace to encourage efficiency, quality and innovation in the delivery of goods
and services.
10. NEED FOR PRIVATISATION
Though the PSUs have contributed heavily to develop the industrial base of the country, they
continue, even today, to suffer from a number of shortcomings which are identified below very
briefly :-
• A sizable number of PSUs have been incurring and reporting losses on a continual basis.
Consequently, a large number of PSUs have already been referred of loss giving units;
• Multiplicity of authorities to whom the PSUs are accountable;
• Delay in implementation of projects leading to cost escalation and other consequences
13. DIFFERENT WAYS IN PRIVATIZATION
• Liberalization Approach
• Relative Share Enlargement Approach
• Association of Private Sector Management Approach
• Transfer of Minority Equity Ownership Approach
• Transfer of Complete Ownership Approach
14. ADVANTAGES OF PRIVATISATION
• Privatization helps to reduce the burden on Govt.
• It will help profit making public sector unit to modernize and diversify
their business.
• It will help in making public sector unit more competitive.
• It will help to improving the quality of decision making,
because the decisions are free from any political interference.
• Privatization may help in reviving sick units which are the
liability of the public sector.
•Increase the foreign investment.
• Increase in efficiency.
15. DISADVANTAGES OF PRIVATISATION
• Industrial sickness.
• Lack of welfare.
• Class struggle.
• Increase in inequality
• Opposition by employees.
• Problem of financing.
• Increase in unemployment.
• Ignores the weaker sections.
• Ignores the national importance
16. SUCCESSFUL PRIVATIZATIONS IN
INDIA
• Lagan jute machinery company limited (LJMC)
Gross turnover: pre-privatization= Rs. 6 million (april-june 2000),
post-privatization= Rs. 24 million (july-september 2000)
• Modern food industries limited (MFIL)
Share value went up from Rs. 2138 on 30th Dec.(prior to sale) to Rs. 3247 on
25th Feb.(post sale).
• Paradeep Phosphates Limited (PPL)
Net profit: pre sale= Rs. -57.95 Cr., post sale= Rs. 23.96 Cr.
• Bharat aluminium company limited (BALCO)
• Hotel Corporation of India limited (HCI)
• Hindustan Zinc limited (HZL)
17. GLOBALIZATION
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 favourable socioeconomic and political climate for global
business.
18. FEATURES OF GLOBALIZATION
• Opening and planning to expand business throughout the world.
• Erasing the difference between domestic market and foreign market.
• Buying and selling goods and services from/to any countries in the world.
• Locating the production and other physical facilities on a consideration of the global
business dynamics ,irrespective of national consideration.
19. 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.
20. FDI IN INDIA
FDI caps in various sectors:
• Defense 26%
• Insurance 49% (earlier 26%)
• Telecom 100% (earlier 74%)
• Single brand retailing 100%
• Multi brand retailing 51%
• Civil aviation 49%
21. ADVANTAGES OF GLOBALIZATION
• Free flow of capital and increase in the total capital employed.
• Free flow of technology.
• Increase in industrialization.
• Spread of production facilities throughout the globe.
• Balanced development of world economies.
• Increase in production and consumption.
• Commodities at lower price with high quality.
• Increase in jobs and income.
• Higher Standard of living.
• Balanced human development
22. DISADVANTAGES OF GLOBALISATION
• Loss of domestic industries
• Exploits Human resource
• Decline in income
• Unemployment
• Transfer of natural resources
• Widening gap between rich and poor
• Dominance of foreign institutions