What are the features of economic …

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Yogita Ingle 5 years, 6 months ago
Following are the features of economic policy in 1991
- Dependence on public sector There were 17 industries reserved for public sector as against 12 industries for private sector.
- Inward looking trade strategy Substituting foreign goods with the local goods so that more local goods could be sold.
- Controlled development of private sector License from Government was required in order to establish a new private firm
- Protection to small scale industries Priority to small-scale industries was given, a certain type of products were made by small scale industries so that they do not go out of the market.- Self sufficiency in food grains Agricultural industry was commercialized and India became self-sufficient in making their own food products.- Diversification of industriesOther than jute, tea and cotton other goods were also made like electricity, automobiles etc.
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