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The Role Of Liberalisation In India’s Economic Growth

Uncover the transformative impact of economic liberalisation on India's growth since 1991. Explore key reforms in finance, taxation, trade, and industry, promoting free capital flow and global integration. Learn about the objectives and advantages that continue to shape India's economic landscape. <br>

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The Role Of Liberalisation In India’s Economic Growth

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  1. Introduction As the global economy surged, India embraced economic liberalization in 1991, a pivotal move for national development. Despite earlier setbacks in 1966 and 1980, this strategic shift marked a turning point, prioritizing dynamism in response to global trade dynamics. Interested in making an impact in the public policy sphere? LEARN MORE

  2. What Is Economic Liberalisation? Liberalisation entails reducing government control in economic activities, aligning with free market principles. Advocates often favor lower taxes and reduced social security and unemployment benefits. India initiated an economic reform programme with two main sets of measures – Macroeconomic Stabilisation Measures Structural Reform Measures Interested in making an impact in the public policy sphere? LEARN MORE

  3. Macroeconomic Stabilisation Measures Structural Reform Measures These actions aim to boost overall demand in the economy, both domestically and internationally. Focusing on creating quality jobs is essential to elevate purchasing power and drive domestic demand. This category involves government policy adjustments to enhance the overall supply of goods and services, often by removing barriers that limit productivity and output potential. Interested in making an impact in the public policy sphere? LEARN MORE

  4. Objective of liberalisation • To foster engagement of domestic private enterprises as well as multinational corporations from India. • To facilitate the global expansion of the Indian economy. • To enhance foreign trade for bolstering the nation’s exports. • To address the balance of payments challenge confronted by India. • To augment the participation of the private sector in India’s economic advancement. • To elevate foreign direct investment in the Indian industrial landscape. • To promote healthy competition among domestic enterprises. Interested in making an impact in the public policy sphere? LEARN MORE

  5. What Were These New Policies? • Financial Sector Reforms • Tax Reforms • Trade and Investment Policy Reforms • External Sector Reforms • Deregulation of the Industrial Sector • Foreign Exchange Reforms • Foreign Trade Policy Reforms Interested in making an impact in the public policy sphere? LEARN MORE

  6. What were the advantages of liberalisation on our country’s economy? Free Capital Flow in The Economy Diversification of Investor Portfolio Improvement of Stock Market Performance Impact on The Agricultural Sector Interested in making an impact in the public policy sphere? LEARN MORE

  7. PDM by ISPP Indian School Of Public Policy (ISPP) academic programme- The Post Graduate Programme in Public Policy, Design, and Management, aspires to create leaders who undergo rigorous, training in communication, management, and leadership skills. The Careers Support Cell, assists each scholar in exploring various career pathways aligned with their interests and aspirations. Watch Complete Video Here Interested in making an impact in the public policy sphere? LEARN MORE

  8. Thank You ‹#› Interested in making an impact in the public policy sphere? LEARN MORE

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