Economic Reforms in India (Post-1991 & Current) क्या है?
ऐतिहासिक पृष्ठभूमि
मुख्य प्रावधान
8 points- 1.
Liberalization: Dismantling of License Raja system of extensive government regulations and licenses required to set up and run businesses, deregulation of industries, removal of price controls.
- 2.
Privatization: Disinvestment of public sector undertakings (PSUs), opening up sectors previously reserved for the public sector to private investment.
- 3.
Globalization: Reduction of import tariffs, removal of quantitative restrictions on imports, promotion of foreign direct investment (FDI) and foreign institutional investment (FII), convertibility of the rupee on current account.
- 4.
Financial Sector Reforms: Deregulation of interest rates, establishment of new private banks, strengthening of regulatory bodies like SEBI, introduction of capital market reforms.
- 5.
Tax Reforms: Simplification of tax structure, introduction of Goods and Services Tax (GST) 2017, reduction of corporate and personal income tax rates.
- 6.
Recent Structural Reforms: Focus on manufacturing (e.g., Production Linked Incentive (PLI) Scheme), logistics (PM Gati Shakti, National Logistics Policy), digital infrastructure (Digital India), and ease of doing business.
- 7.
Labor Reforms: Efforts to rationalize and simplify complex labor laws to improve industrial relations and attract investment.
- 8.
Agricultural Reforms: Attempts to liberalize agricultural markets and improve farmer incomes, though some have faced resistance.
दृश्य सामग्री
India's Economic Reforms: Pillars & Impact
This mind map illustrates the multi-faceted nature of India's economic reforms, categorizing them into key pillars and highlighting their interconnected impact on growth and competitiveness.
Economic Reforms in India
- ●1991 LPG Reforms
- ●Financial Sector Reforms
- ●Tax Reforms
- ●Recent Structural Reforms
- ●Legal & Regulatory Framework
हालिया विकास
6 विकासContinued focus on capital expenditure to boost infrastructure and growth.
Implementation of PM Gati Shakti National Master Plan and National Logistics Policy to reduce logistics costs and improve efficiency.
Expansion of Production Linked Incentive (PLI) Schemes across 14 key sectors to boost domestic manufacturing and exports.
Significant strides in digital public infrastructure (e.g., UPI, Aadhaar) driving financial inclusion and service delivery.
Ongoing efforts to reduce compliance burden and improve ease of doing business.
Debate on the pace and scope of privatization of public sector enterprises.