CBSE Class 10 Answered
What did the government do in pursuance of the new economic policy regarding globalization?
Asked by rajbalanathasar | 09 Feb, 2021, 09:33: AM
Expert Answer
New Economic Policy of India was launched in the year 1991 under the leadership of P. V. Narasimha Rao. In this policy, emphasis was laid on privatisation, liberlisation and globalisation. It opened the door of the India Economy for the global exposure for the first time. Under this policy, the import duties were reduced and certain reserved sector were opened up for the private players. The NEP aimed to achieve economic stabilization and to convert the economy into a market economy by removing all kinds of un-necessary restrictions.
Answered by Social Science Expert | 09 Feb, 2021, 06:48: PM
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