Search results
Results from the WOW.Com Content Network
The reforms drew heavy scrutiny from opposition leaders. The New Industrial Policy and 1991 Budget was decried by opposition leaders as "command budget from the IMF" and worried that withdrawal of subsidies for fertilizers and hikes in oil prices would harm lower and middle-class citizens. [27]
However, by 1991, the country was facing a severe balance of payments crisis, as it was unable to service its debt and was running out of foreign exchange reserves. [19] There were also structural problems in the Indian economy that contributed to the crisis, including low savings and investment rates, and inadequate export growth.
A new industrial policy was tabled in Parliament on 24 July 1991 aiming to maintain growth in productivity and gainful employment and to encourage the growth of entrepreneurship and upgrades to technology. [3] That year the SICA was amended to include public sector enterprises in the board's purview. [4]
A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of industrial policy. [6] Industrial policies are interventionist measures typical of mixed economy countries. Many types of industrial policies contain common elements with other types of interventionist practices such as trade ...
Events in the year 1991 in the Republic of India. The year 1991 was a watershed moment in the history of Economy of India . It was the year in which India formally announced its shift towards Liberalization , Privatization and Globalization from hitherto existed Mixed economy that was predominantly a Planned economy .
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
Main page; Contents; Current events; Random article; About Wikipedia; Contact us
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more