India Economic Policy

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This site provides comprehensive information on India Economic Policy. The site also focuses on India's achievements as a result of its well designed Economic Policy post independence.

India embarked on economic reforms in 1991, in the wake of a balance of payments crisis. Issues concerning economic policy, impact of the reforms on poverty, sectoral issues relating to agriculture, industry and infrastructure. To become a major player in world economy, a comprehensive approach was taken through India Economic Policy. After the liberalization of Indian Economy in the early 1990s, the Indian economy scenario witnessed a paradigm shift of stance. India Economic Policy has cast off its protectionism image and became more liberal. Foreign investors were allowed to invest in Indian business and as a result of which huge foreign direct investments or FDI flowed into the Indian market. Rationality and consistency among trade and other economic policies were taken into account for maximizing the contribution of such policies. And, while implementing the India Economic Policy, previous economic policies of India were also refereed, to allow developmental scope of India Economic Policy.

Objectives of the India Economic Policy -

The India Economic Policy contains the basic principles and points the direction in which it propose to move. India Economic Policy cannot be fully comprehensive in all its details, as it would require modification during the course of time with changing dynamics of international economy. The main objectives of the India Economic Policy is to take care of the basic parameters of the Indian Economy as mentioned below:
  • Agriculture
  • Industry
  • Licensing policy
  • Monetary policy
  • Fiscal policy
  • Commercial policy
  • Pricing policy
Road ahead for the India Economic Policy -

"Economic policy of any nation is a powerful instrument on the part of policy makers to direct the economy in the desired direction if formulated such a policy properly and implemented effectively. The India Economic Policy is formulated keeping into consideration India's immediate as well as long term economic requirements. The India Economic Policy is adopted so far has given rich dividends.

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