Prior to the reforms of 1991. India’s economic policies were dominated by welfarism, self- reliance, socialistic ideals and others. The State pursued the policies of import substitutions, encouragement of public or state entrepreneurship and imposed regulations and controls over private enterprises and others. The public sector suffered from lack of autonomy in policy making. It […]
Tag: liberalization
87. Liberalization: its Pros and Cons – I
Since 1991, prompted by the World Bank and IMF, we have been following the policy of liberalization. There has been a general trend in the direction of Lean Government. For the manufacture of a variety of products and provision of a variety of services, people are no longer required to run to the Government for […]