ISBN 9788177080094,India: A Decade of Economic Reforms - 1991-2001

India: A Decade of Economic Reforms - 1991-2001


M. M. Sury


New Century Press



New Century Press

Publication Year 2001

ISBN 9788177080094

ISBN-10 8177080091


Number of Pages 272 Pages
Language (English)

Business & Economics

India's development pattern during 1950-80 was characterised by strong centralised planning, Government ownership of basic and key industries, excessive regulation and control of private enterprise, trade protectionism through tariff and non-tariff barriers and a cautious and selective approach towards foreign capital. This so-called inward-looking, import substitution strategy of economic development began to be widely questioned with the beginning of 1980s. Consequently, economic reforms were set in motion when controls on industries were reduced by the 1985 industrial policy. The economic reforms programme got a big boost when the Government announced a new industrial policy in the Indian Parliament on July 24, 1991. Since then, it is liberalisation, privatisation and globalisation all the way and the process is underway. This book presents a comprehensive, in-depth and balanced description and assessment of the economic reforms programme covering the period 1991-2001.