Question

Study the following case/situation and express your opinion.

The government of India is seriously thinking to allow oil marketing under the public sector, by fixing their own price for petroleum products.

1. Name the economic reform related to this decision.
2. Name the other two reforms recommended in the new economic policy.

Answer 1

1. Privatization is the economic reform related to this decision.
2. The other two reforms recommended in the new Economic policy are Liberalization and Globalization.