What do you mean by Economic Reforms?

1.	What do you mean by Economic Reforms?
Answer» Economic reforms is defined as the changes introduced by the government to bring an improvement in the economy of a country through various reforms and policies. India initiated economic reforms in 1991. (i) Introduction of “free of control” economy. (ii) A shift from public to private sector. (iii) Free entry to foreign private investment. Thus, the basic pillars of new economic policy are Liberalization, Privatization and Globalisation

Answer»

Economic reforms is defined as the changes introduced by the government to bring an improvement in the economy of a country through various reforms and policies.
India initiated economic reforms in 1991.

(i) Introduction of “free of control” economy.

(ii) A shift from public to private sector.

(iii) Free entry to foreign private investment. Thus, the basic pillars of new economic policy are Liberalization, Privatization and Globalisation

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What do you mean by Economic Reforms?

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