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Questions
What do you mean by economic reforms in India?
What is the new economic policy?
Short Answer
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Solution
Economic reforms in India refer to the policy measures begun in 1991 to raise efficiency, productivity, and growth by reducing government controls and opening markets. It is called the New Economic Policy (LPG), which stresses liberalisation, privatisation, and globalisation to boost competition, investment, and the use of global resources.
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Notes
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