Industrial Policy‚ 1991 INTRODUCTION The industrial policies pursued till 1990 enabled India to develop a vast and diversified industrial structure. India attained self–sufficiency in a wide range of consumer goods. But the industrial growth was not rapid enough to generate sufficient employment‚ to reduce regional disparities and to alleviate poverty. It was felt that government controls and regulations had put shackles on the growth of different segments of Indian Industry. Lack of adequate
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noticeable change in the Indian economy after 1991? How these changes affected Industrial Relations? Changes in the Scenario‚ Before and After Economics Liberalisation Before Liberalisation • State-sponsored and State-mediated development • Protected domestic market • Budgetary and directed Institutional resource allocation • Subsides and administered price regime • Welfare State active in labour market • Systematic de-casualization of jobs • Stable governing structure and policy regime • Stable though
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Q: Briefly explain the changes happened in Indian Financial System after 1991 and also describe the impact on financial services. A: The year 1991 itself is very important for Indian history as economic reforms took place in this year. Reduction in import tariffs‚ deregulation of markets‚ reduction of taxes‚ and greater foreign investment were some important features of the economic reform. The economic reform process that took place in 1991‚ happened to resolve two crises: 1) the balance of payments
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NAME : AYUSHA MAKEN CLASS : BBA 5TH B ERP ID : 0151BBA065 ASSIGNMENT NO. 1 QUESTION: Briefly explain the changes that happened in Indian Economy after 1991. ANSWER: By 1985‚ India started having balance of payments problems. By the end of 1990‚ it was in a serious economic crisis. The government was close to default‚ its central bank had refused new credit and foreign exchange reserves had reduced to such a point that India could barely finance three weeks’ worth of imports. India had to airlift
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tSpecial articles and Industrial Policy Which 1980: since Performance Now? Way Since 1980-81‚ manufacturingsector output has grown at 7 per cent per year‚ with economic reforms making little difference to the trend in the 1990s. But growth has decelerated over the last seven years‚ after peaking in 1995-96. Why is this so? The reforms have narrowlyfocused on policy-induced restrictions on supply‚ ignoring the demand constraint due to the cut in public infrastructureinvestmentsince the
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Political Economy of Industrial Policy in Pakistan 1947-1971 Mushtaq H. Khan‚ Department of Economics‚ SOAS‚ University of London. The period from 1947 when Pakistan was created to the watershed of 1971 when East Pakistan split off to become Bangladesh is an important one for studying the determinants of industrial performance in the Indian subcontinent. On the one hand‚ despite substantial differences in the industrial policies of Pakistan and India‚ their rates of industrial growth were remarkably
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In particular an important distinction was made among industries to be developed exclusively by the public sector‚ those reserved for the private sector‚ and those open to development by either or both sectors. The reforms of 1991 abolished industrial licensing‚ except in a few industries for locational reasons or for environmental considerations‚ and import licensing‚ except in the case of most consumer goods. Restrictions under the Monopolies and Restrictive Trade Practices Act
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1. Critique on banking sector reforms in post 1991 period The Future of Banking Reform Prior to the economic reforms‚ the financial sector of India was on the crossroads. To improve the performance of the Indian commercial banks‚ first phase of banking sector reforms were introduced in 1991 and after its success; government gave much importance to the second phase of the reforms in 1998. Uppal (2011) analyzes the ongoing banking sector reforms and their efficacy with the help of some ratios
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Industrial activity is a major source of stability in an economy. It is more crucial in a planned economy wedded to the achievement of such an objective of economic growth and social justice. Achievement of such an objective requires active State participation in the process of industrialization to give the required directions as demanded by the situation. An industrial policy provides guidelines for the effective co-ordination of the activities of various sectors of the economy. The evolution of
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International Business Assignment Q – Briefly explain the changes happened in Indian economy after 1991. The problems started in 1980’s‚ India had started having problems in balance of payments and till 1991 India was in serious economic crisis. The main reasons were currency devaluation and large and growing fiscal imbalances. Government of India took immediate action against it‚ it took loan from international monetary funds (IMF) against India’s gold reserves.67 tons of gold was transferred to
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