LPG Reforms in India.pptx
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The document discusses India's economic reforms in the 1990s known as LPG reforms - Liberalization, Privatization and Globalization. It provides background on the reasons for reforms including poor public sector performance and fiscal issues. Liberalization aims to reduce restrictions to allow private businesses more freedom. Privatization involves reducing government ownership and selling public enterprises. Globalization policies integrated India more into the global economy through policies like increasing foreign investment limits and trade liberalization. The reforms led to benefits like increased growth, exports and reserves but also issues like jobless growth and rising inequality.
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Economic reforms scince 1991
It refers to economic reforms introduced in 1991, In India to enhance the productivity and profitability of the economy and to form the economy globally competitive.
neweconomicpolicy1991-180901071605.pdf
The document discusses India's New Economic Policy of 1991 which aimed to liberalize and open up the Indian economy. It was introduced when India was facing an economic crisis in 1991 under the government of P.V. Narasimha Rao and Finance Minister Manmohan Singh. The key aspects of the new policy included structural reforms, market deregulation, privatization of public sector enterprises, and policies to encourage foreign investment. The goals were to make the economy more market-oriented and increase the role of private sector. The reforms led to liberalization of trade and industry, fiscal reforms, and financial sector reforms. Overall, the new economic policy aimed to shift India towards a globally integrated, free market economy.
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The document discusses India's New Economic Policy of 1991 which aimed to liberalize and open up the Indian economy. It was introduced when India was facing an economic crisis in 1991 under the government of P.V. Narasimha Rao and Finance Minister Manmohan Singh. The key aspects of the new policy included structural reforms, market deregulation, privatization of public sector companies, and policies to encourage foreign investment. The goals were to make the economy more market-oriented and boost economic growth. The reforms led to liberalization of trade and industry, and helped drive increased economic growth, foreign investment, and a more globalized Indian economy over the years.
New Economic Policy 1991
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
Economic reforms 1991
Economic Reforms 1991: New Economic Policy(NEP), Main Economic Reforms, Liberalization, Privatization, Globalization, Merits & Demerits of Economic reforms
11 economics notes_ch12_economic_reforms_since_1991
The document discusses India's economic reforms that began in 1991 in response to a economic crisis. It overviews the need for reforms due to mounting fiscal deficits, adverse balance of payments, Gulf crises impacts, and poor performance of public sector undertakings. The reforms, called the New Economic Policy, consisted of liberalization, privatization, and globalization measures like abolishing industrial licensing, disinvesting public sector enterprises, and increasing foreign investment limits. Positive impacts included stimulating industrial production and improving foreign exchange reserves, while potential negative impacts included neglect of agriculture and lopsided growth.
11 economics notes_ch12_economic_reforms_since_1991
The document discusses India's economic reforms that began in 1991 in response to a economic crisis. It overviews the need for reforms due to mounting fiscal deficits, adverse balance of payments, Gulf crises impacts, and poor performance of public sector undertakings. The reforms, called the New Economic Policy, consisted of liberalization, privatization, and globalization measures like abolishing industrial licensing, disinvesting public sector enterprises, and increasing foreign investment limits. Positive impacts included stimulating industrial production and improving foreign exchange reserves, while potential negative impacts included neglect of agriculture and lopsided growth.
Economy Reform.pdf
he economic reforms of 1991 in India were necessitated by a combination of internal and external factors that created a severe economic crisis.
The key conditions that prompted the need for reforms include:
Balance of Payments Crisis:
India faced a severe balance of payments crisis with dwindling foreign exchange reserves, making it challenging to meet international payment obligations.
Fiscal Deficit and High Inflation:
High fiscal deficit and inflation rates eroded the purchasing power of the currency, leading to economic instability.
External Debt Burden:
The accumulation of a substantial external debt burden resulted in debt-servicing challenges, straining the country’s financial resources.
Stagnant Industrial Growth:
The industrial sector was characterized by low growth, inefficiencies, and outdated technology, affecting competitiveness.
Trade Imbalances:
Trade imbalances and restrictive trade policies hindered export growth and economic integration with the global economy.
Inefficient Public Sector Enterprises (PSEs):
Public sector enterprises faced inefficiencies, low productivity, and financial losses, posing a burden on the government’s finances.
Lack of Foreign Investment:
A restrictive and regulated environment deterred foreign direct investment (FDI), limiting access to foreign capital and technology.
Bureaucratic Controls and License Raj:
Excessive bureaucratic controls and the License Raj stifled entrepreneurship, hindered innovation, and led to a lack of competitiveness.
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Economic reforms scince 1991
It refers to economic reforms introduced in 1991, In India to enhance the productivity and profitability of the economy and to form the economy globally competitive.
neweconomicpolicy1991-180901071605.pdf
The document discusses India's New Economic Policy of 1991 which aimed to liberalize and open up the Indian economy. It was introduced when India was facing an economic crisis in 1991 under the government of P.V. Narasimha Rao and Finance Minister Manmohan Singh. The key aspects of the new policy included structural reforms, market deregulation, privatization of public sector enterprises, and policies to encourage foreign investment. The goals were to make the economy more market-oriented and increase the role of private sector. The reforms led to liberalization of trade and industry, fiscal reforms, and financial sector reforms. Overall, the new economic policy aimed to shift India towards a globally integrated, free market economy.
New economic policy 1991
The document discusses India's New Economic Policy of 1991 which aimed to liberalize and open up the Indian economy. It was introduced when India was facing an economic crisis in 1991 under the government of P.V. Narasimha Rao and Finance Minister Manmohan Singh. The key aspects of the new policy included structural reforms, market deregulation, privatization of public sector companies, and policies to encourage foreign investment. The goals were to make the economy more market-oriented and boost economic growth. The reforms led to liberalization of trade and industry, and helped drive increased economic growth, foreign investment, and a more globalized Indian economy over the years.
New Economic Policy 1991
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
Economic reforms 1991
Economic Reforms 1991: New Economic Policy(NEP), Main Economic Reforms, Liberalization, Privatization, Globalization, Merits & Demerits of Economic reforms
11 economics notes_ch12_economic_reforms_since_1991
The document discusses India's economic reforms that began in 1991 in response to a economic crisis. It overviews the need for reforms due to mounting fiscal deficits, adverse balance of payments, Gulf crises impacts, and poor performance of public sector undertakings. The reforms, called the New Economic Policy, consisted of liberalization, privatization, and globalization measures like abolishing industrial licensing, disinvesting public sector enterprises, and increasing foreign investment limits. Positive impacts included stimulating industrial production and improving foreign exchange reserves, while potential negative impacts included neglect of agriculture and lopsided growth.
11 economics notes_ch12_economic_reforms_since_1991
The document discusses India's economic reforms that began in 1991 in response to a economic crisis. It overviews the need for reforms due to mounting fiscal deficits, adverse balance of payments, Gulf crises impacts, and poor performance of public sector undertakings. The reforms, called the New Economic Policy, consisted of liberalization, privatization, and globalization measures like abolishing industrial licensing, disinvesting public sector enterprises, and increasing foreign investment limits. Positive impacts included stimulating industrial production and improving foreign exchange reserves, while potential negative impacts included neglect of agriculture and lopsided growth.
Economy Reform.pdf
he economic reforms of 1991 in India were necessitated by a combination of internal and external factors that created a severe economic crisis.
The key conditions that prompted the need for reforms include:
Balance of Payments Crisis:
India faced a severe balance of payments crisis with dwindling foreign exchange reserves, making it challenging to meet international payment obligations.
Fiscal Deficit and High Inflation:
High fiscal deficit and inflation rates eroded the purchasing power of the currency, leading to economic instability.
External Debt Burden:
The accumulation of a substantial external debt burden resulted in debt-servicing challenges, straining the country’s financial resources.
Stagnant Industrial Growth:
The industrial sector was characterized by low growth, inefficiencies, and outdated technology, affecting competitiveness.
Trade Imbalances:
Trade imbalances and restrictive trade policies hindered export growth and economic integration with the global economy.
Inefficient Public Sector Enterprises (PSEs):
Public sector enterprises faced inefficiencies, low productivity, and financial losses, posing a burden on the government’s finances.
Lack of Foreign Investment:
A restrictive and regulated environment deterred foreign direct investment (FDI), limiting access to foreign capital and technology.
Bureaucratic Controls and License Raj:
Excessive bureaucratic controls and the License Raj stifled entrepreneurship, hindered innovation, and led to a lack of competitiveness.
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Ms. Neetu Kushwaha
Research Scholar
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Economic Reforms LPG
This lesson shows entire theory of government economics reforms
like Liberalization, Privatisation and Globlisation.
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The document discusses the liberalization reforms that occurred in India starting in 1991. It provides background on the meaning and objectives of liberalization, which aims to reduce government restrictions on private businesses to promote growth. The major reforms included deregulating industries, reforming the financial sector through increased competition and interest rate deregulation, simplifying tax structures, and opening the foreign exchange market through measures like currency devaluation and reduced import/export barriers. The impacts of liberalization included increased investment, technology improvements, diversification, and unlocking India's economic potential through private sector expansion.
19202008
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.
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The document discusses India's New Industrial Policy of 1991 which introduced the principles of liberalization, privatization, and globalization (LPG). It aimed to liberalize trade and industry, privatize state-run companies, and make the Indian economy more globally integrated in order to address issues like high government debt, losses in public sector enterprises, and low foreign exchange reserves. The policy changes were meant to increase economic efficiency and growth by reducing regulations and opening India's markets to foreign investments and trade. The document outlines the key aspects of LPG and provides arguments for and against their potential economic and social impacts.
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1) In 1991, India implemented economic reforms known as Liberalization, Privatization, and Globalization (LPG) due to factors like a balance of payments crisis, high government debt, and inefficiency.
2) Liberalization reduced regulations on industry and trade. Privatization transferred ownership of public sector enterprises to private companies. Globalization opened the economy to foreign investment and trade.
3) The LPG reforms accelerated India's economic growth, increased exports and foreign investment, and improved standards of living. However, challenges remain to ensure equal benefits of growth and further reforms.
Assignment115
The document discusses India's economic reforms in the 1990s that introduced liberalization, privatization, and globalization (LPG) policies. It provides background on the economic crisis in the 1980s that necessitated reforms, with high government deficits, rising prices, and declining foreign exchange reserves. The reforms deregulated industries, reformed the financial sector, simplified taxes, and liberalized trade. Privatization sold shares of public sector undertakings to improve efficiency. Globalization integrated India's economy through policies like outsourcing and World Trade Organization membership. The document evaluates both positive and negative impacts of the reforms.
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1. The document defines business environment as the external forces that influence business decisions including economic, social, political, and technological factors outside a business's control.
2. It identifies key components of the general business environment including the economic, social, political, legal, and technological environments. The economic environment includes factors like GDP, inflation, and interest rates.
3. After economic reforms in India in 1991, the government liberalized, privatized, and opened the economy to globalization. This increased competition from foreign and private firms and forced businesses to change, innovate, and improve performance.
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The document discusses India's adoption of liberalization, privatization, and globalization (LPG) policies in 1991 in response to a balance of payments crisis. It overviews the economic situation in 1990-1991 that precipitated the crisis, including high fiscal and current account deficits. It then defines the LPG policies and outlines some of their key aspects, such as abolishing licensing, increasing private sector participation, and reducing trade barriers. Both the advantages, like increased investment and competition, and disadvantages, like job losses and increased inequality, of the reforms are mentioned.
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The document discusses India's economic reforms in the early 1990s. It summarizes that the reforms were initiated in 1991 due to a crisis in the economy, with goals of stabilizing growth and reducing fiscal deficits. The key aspects of the reforms were liberalization of controls on industry, privatization of public sector industries, and increasing globalization and openness to foreign trade and investment.
Private,public and global enterprises.pptx 2
The document discusses India's New Economic Policy which began in 1991 and included economic liberalization, privatization, and globalization. It overhauled India's socialist-based policies and opened the economy to global markets. Key aspects included liberalizing foreign investment rules, privatizing state-run companies, removing import/export restrictions, and integrating India's economy globally. The effects were both positive, like increased foreign investment and GDP growth, as well as negative, such as rising unemployment and inequality. Businesses had to adapt to increased competition, demanding customers, rapidly changing technology, and reduced public sector support.
Libralization, Privatization and Globalization
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.
LPG- Liberalisation Privatisation Globalisation
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.
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The document discusses India's economic reforms beginning in 1991 in response to a crisis. The reforms included liberalization by reducing government controls on industry and foreign trade, privatization by reducing public sector involvement in the economy, and globalization by increasing integration into the global economy and foreign investment. The goals of the reforms were to stabilize the economy, restore growth, improve efficiency, and strengthen India's competitive position globally.
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The document discusses India's economic reforms in 1991 known as LPG - Liberalization, Privatization, and Globalization. It introduced policies like liberalizing trade and foreign investment, privatizing state-run companies, and opening the economy to global markets. The reforms aimed to increase India's GDP growth rate by making the economy more efficient. While it led to increased growth, foreign investment, and incomes overall, there were also disadvantages like increased dependency on imports and threats from foreign competition. The reforms marked a significant shift away from India's previous protectionist policies towards a more market-based economy.
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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.
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The document discusses India's adoption of the LPG (Liberalization, Privatization, and Globalization) model of economic reforms in 1991. It introduced liberalization to relax restrictions and attract foreign investment. Public sector enterprises were privatized to increase competition and efficiency. Globalization integrated India's economy with the world to access wider markets and investment opportunities. While this boosted growth, it also increased dependence on foreign companies and global economic conditions.
New economic policy and SAP
The document discusses India's economic policies prior to 1991, which involved a mixed economy with inward-looking and interventionist policies that led to inefficiencies. It then outlines the economic difficulties India faced in the late 1980s and early 1990s that necessitated reforms. The New Economic Policy of 1991 liberalized India's economy through delicensing most industries, allowing private sector investment, disinvestment of public sectors, and liberalizing foreign investment and trade. The policy had three main components: liberalization, privatization, and globalization. It aimed to make India's economy more competitive and open to global markets through structural adjustment supported by the IMF and World Bank.
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India's experience of liberalization and globalization
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Prepared by
Ms. Neetu Kushwaha
Research Scholar
Department of Commerce
Economic Reforms LPG
This lesson shows entire theory of government economics reforms
like Liberalization, Privatisation and Globlisation.
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The document discusses the liberalization reforms that occurred in India starting in 1991. It provides background on the meaning and objectives of liberalization, which aims to reduce government restrictions on private businesses to promote growth. The major reforms included deregulating industries, reforming the financial sector through increased competition and interest rate deregulation, simplifying tax structures, and opening the foreign exchange market through measures like currency devaluation and reduced import/export barriers. The impacts of liberalization included increased investment, technology improvements, diversification, and unlocking India's economic potential through private sector expansion.
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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.
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Liberalisation privatisation globalisation
1) In 1991, India implemented economic reforms known as Liberalization, Privatization, and Globalization (LPG) due to factors like a balance of payments crisis, high government debt, and inefficiency.
2) Liberalization reduced regulations on industry and trade. Privatization transferred ownership of public sector enterprises to private companies. Globalization opened the economy to foreign investment and trade.
3) The LPG reforms accelerated India's economic growth, increased exports and foreign investment, and improved standards of living. However, challenges remain to ensure equal benefits of growth and further reforms.
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The document discusses India's economic reforms in the 1990s that introduced liberalization, privatization, and globalization (LPG) policies. It provides background on the economic crisis in the 1980s that necessitated reforms, with high government deficits, rising prices, and declining foreign exchange reserves. The reforms deregulated industries, reformed the financial sector, simplified taxes, and liberalized trade. Privatization sold shares of public sector undertakings to improve efficiency. Globalization integrated India's economy through policies like outsourcing and World Trade Organization membership. The document evaluates both positive and negative impacts of the reforms.
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1. The document defines business environment as the external forces that influence business decisions including economic, social, political, and technological factors outside a business's control.
2. It identifies key components of the general business environment including the economic, social, political, legal, and technological environments. The economic environment includes factors like GDP, inflation, and interest rates.
3. After economic reforms in India in 1991, the government liberalized, privatized, and opened the economy to globalization. This increased competition from foreign and private firms and forced businesses to change, innovate, and improve performance.
LIBERALISATION PRIVATISATION GLOBALISATION
The document discusses India's adoption of liberalization, privatization, and globalization (LPG) policies in 1991 in response to a balance of payments crisis. It overviews the economic situation in 1990-1991 that precipitated the crisis, including high fiscal and current account deficits. It then defines the LPG policies and outlines some of their key aspects, such as abolishing licensing, increasing private sector participation, and reducing trade barriers. Both the advantages, like increased investment and competition, and disadvantages, like job losses and increased inequality, of the reforms are mentioned.
Economic reforms
The document discusses India's economic reforms in the early 1990s. It summarizes that the reforms were initiated in 1991 due to a crisis in the economy, with goals of stabilizing growth and reducing fiscal deficits. The key aspects of the reforms were liberalization of controls on industry, privatization of public sector industries, and increasing globalization and openness to foreign trade and investment.
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The document discusses India's New Economic Policy which began in 1991 and included economic liberalization, privatization, and globalization. It overhauled India's socialist-based policies and opened the economy to global markets. Key aspects included liberalizing foreign investment rules, privatizing state-run companies, removing import/export restrictions, and integrating India's economy globally. The effects were both positive, like increased foreign investment and GDP growth, as well as negative, such as rising unemployment and inequality. Businesses had to adapt to increased competition, demanding customers, rapidly changing technology, and reduced public sector support.
Libralization, Privatization and Globalization
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.
LPG- Liberalisation Privatisation Globalisation
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.
Economicreforms 101101094318-phpapp01
The document discusses India's economic reforms beginning in 1991 in response to a crisis. The reforms included liberalization by reducing government controls on industry and foreign trade, privatization by reducing public sector involvement in the economy, and globalization by increasing integration into the global economy and foreign investment. The goals of the reforms were to stabilize the economy, restore growth, improve efficiency, and strengthen India's competitive position globally.
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The document discusses India's economic reforms in the 1990s known as the LPG model of liberalization, privatization, and globalization. It aimed to make India the fastest growing economy through reforms to business, manufacturing, and financial services. This led to greater economic growth. Liberalization relaxed government regulations. Privatization involved transferring ownership from public to private sectors. Globalization integrated India's economy globally. The reforms addressed issues like high debt, inefficiency, and low foreign reserves. [END SUMMARY]
1992 indian economical reforms
The document discusses India's economic reforms in 1991 known as LPG - Liberalization, Privatization, and Globalization. It introduced policies like liberalizing trade and foreign investment, privatizing state-run companies, and opening the economy to global markets. The reforms aimed to increase India's GDP growth rate by making the economy more efficient. While it led to increased growth, foreign investment, and incomes overall, there were also disadvantages like increased dependency on imports and threats from foreign competition. The reforms marked a significant shift away from India's previous protectionist policies towards a more market-based economy.
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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.
Lpg presentation
The document discusses India's adoption of the LPG (Liberalization, Privatization, and Globalization) model of economic reforms in 1991. It introduced liberalization to relax restrictions and attract foreign investment. Public sector enterprises were privatized to increase competition and efficiency. Globalization integrated India's economy with the world to access wider markets and investment opportunities. While this boosted growth, it also increased dependence on foreign companies and global economic conditions.
New economic policy and SAP
The document discusses India's economic policies prior to 1991, which involved a mixed economy with inward-looking and interventionist policies that led to inefficiencies. It then outlines the economic difficulties India faced in the late 1980s and early 1990s that necessitated reforms. The New Economic Policy of 1991 liberalized India's economy through delicensing most industries, allowing private sector investment, disinvestment of public sectors, and liberalizing foreign investment and trade. The policy had three main components: liberalization, privatization, and globalization. It aimed to make India's economy more competitive and open to global markets through structural adjustment supported by the IMF and World Bank.
Liberalisationprivatisationandglobalisation 130725021039-phpapp02
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.
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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- 2. Reasons for economic reforms 1. Poor performance of public sector. 2. Deficit of balance of payments (BOP). 3. Inflationary Pressures. 4. Fall on foreign exchange resources. 5. Huge burden of debts. 6. Inefficient management.
- 3. Liberalisation Liberalization means removing all unnecessary control and restrictions like permits licenses, protectionist duties quotas etc. In other words, It may be defined as loosening of government regulation in a country to allow for private sector companies to operate business transactions with fewer restrictions.
- 4. Objectives of liberalisation 1. To decrease debt burden of the country 2. To expand size of the market 3. To increase competition among domestic industries 4. To encourage export and import of goods and services.
- 5. Economic reforms under liberalisation 1. Industrial sector reforms Abolition of Industrial Licensing Contraction off Public Sector Freedom to Import capital goods 2. Financial sector reforms. Reducing various Ratios(SLR, CRR) Change in role of RBI from regulator to facilitator De-regulation of interest rates
- 6. (Continued) 3. Fiscal reforms/Tax reforms. 4. Foreign exchange reforms. 5. Trade and investment reforms.
- 7. Privatisation Privatization is the general process of involving the private sector in the ownership or operation of a state owned enterprise Policies adopted for privatization 1. Contraction of public sector. 2. Abolish the ownership of Government in the management of public enterprises. 3. Sale of shares of public enterprises.
- 8. Objectives of Privatisation 1. Raising funds from Disinvestment 2. Improving the financial condition of the govt. 3. Bringing healthy competition within an economy 4. Making Way for Foreign Direct Investment
- 9. Globalization Globalization may be defined as a process associated with increasing openness, growing economic interdependence, and deepening economic integration in the world economy. Policy promoting globalization: 1. Increase in equity limit of foreign investment. 2. Partial convertibility. 3. Long-term trade policy. 4. Reduction in tariff.
- 10. An Appraisal of LPG Policies 1. Increase in foreign investment. 2. Increase in foreign exchange reserves. 3. A check of inflation. 4. Increase in national income. 5. Increase in exports. 6. Consumer sovereignty.
- 11. Negative Impact 1. Neglect of agriculture. 2. Jobless growth. 3. Increase income inequalities. 4. Adverse effect of disinvestment policy. 5. Cultural erosion. 6. Encourages economic colonialism
- 12. Thank You