Knowledge Themes
Balance of Payments Crisis 1991
Liberalisation Privatisation and Globalisation (LPG)
Industrial Policy Resolution 1991
Abolition of License Raj
MRTP Act Amendments
Devaluation of Rupee
Current Account Convertibility
Foreign Development Investment (FDI) Policy
Disinvestment of PSUs
Financial Sector Reforms (Narasimham Committee)
Tax Reforms (Raja Chelliah Committee)
Export-Import (EXIM) Policy
World Bank and IMF Conditionalities
WTO and Trade Liberalisation
Structural Adjustment Programme
Structural Subtopics
- Balance of Payments crisis of 1991 and IMF conditionalities
- Abolition of industrial licensing and end of License Raj
- De-reservation of industries for the public sector
- Disinvestment and strategic sale of Public Sector Undertakings
- Impact of rupee devaluation and transition to market-linked exchange rates
- Reduction and rationalization of import tariffs and customs duties
- Replacement of FERA with the Foreign Exchange Management Act (FEMA)
- Deregulation of interest rates and entry of private sector banks
- Shift from Nehru-Mahalanobis model to market-oriented development
- Impact of reforms on service-led growth and the IT sector boom
- Challenges of jobless growth and rising income inequality post-1991
- Structural reforms in taxation and transition toward value-added taxes
- Impact of globalization on the informal sector and formalization of the economy
- Selective opening of sectors and the Middle Path approach to reforms
Study Material
Full AI-synthesized study material for New Economic Policy 1991 — LPG Reforms & Outcomes is being calibrated.
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