The document discusses economic reforms in India. It defines economic reforms as policies aimed at achieving economic growth. It outlines reasons for reforms such as poor industrial performance and high fiscal deficits. The major types of reforms discussed are structural, fiscal, and infrastructure reforms. Key reforms implemented in India included liberalization, privatization, and globalization to open the economy to private and foreign investments. The economic crisis of 1991 prompted major reforms under the leadership of P.V. Narasimha Rao and Manmohan Singh, including the 1991 New Economic Policy. Examples of recent reforms discussed include GST and demonetization.