Give any four arguments in favour of New Economic Policy.
Download our app for free and get started
- New Economic Policy, through the economic reforms, aimed at removing the inefficiencies in the economic system.
- The growth of the service sector led to the growth of the GDP from 5.96% during 1980-81 to 8.2% during 2007-2012.
- The economy opening up to the Rest of the World, led to the rapid expansion of foreign direct investment and foreign exchange reserves.
- There has been an increase in the foreign exchange reserves from about $6 billion in 1990-91 to $400 billion in 2011-12.
- Rising prices had also been kept under control.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionState the main objectives of liberalisation policy.OR
Why is it said that NEP is liberal? - 2View SolutionWhat did the trade policy reforms aim at?
- 3View SolutionList any five such PSUs that are partly privatised.
- 4View SolutionThe single tax implemented from 1st July 2017 was likely to reduce prices of which kind of products? Give example of any three items which are exempted from GST and why? Give reason.
- 5View SolutionWhat steps were taken towards privatisation in 1991?
- 6View Solution"NEP stimulated economic growth". Give three arguments in favour and against of this statement.
- 7View SolutionHow will Goods and Services Tax (GST) be a comprehensive indirect tax? Explain.
- 8View SolutionWhat was the impact of reforms on growth and employment in India?
- 9View SolutionRead this excerpt of a news item from a daily newspaper describing something that is now becoming increasingly common.
"On a morning, a few minutes before 7A.M., Greeshma sat in front of her computer with her headset on and said in accented English 'Hello, Daniella'. Second later, she gets the reply, 'Hello, Greeshma'. The two chatted excitedly before Greeshma said that we will work on pronouns today'. Nothing unusual about this that except that Greeshma, 22, was in Kochi and her student Daniella, 13, was at her home in Malibu, California. Using a simulated whiteboard on their computers, connected by the Internet, and a copy of Daniella's textbook in front of Greeshma, she guides the teenager through the intricacies of nouns, adjectives and verbs. Greeshma, who grew up speaking Malayalam, was teaching Daniella English grammar, comprehension and writing."- How has this become possible? Why can't Daniella get lessons in her own country? Why is she getting English lessons from India, where English is not the mother tongue?
- India is benefitting from liberalisation and integration of world markets. Do you agree?
- 10View SolutionDiscuss the impact of fiscal sector reforms.