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ASSIGNMENT Submitted by: Jiji. V. C MBA FT 4th sem NO: 21 innovation It was in 1991 that the government of P. V. Narasimha Rao and his finance minister Manmohan Singh started breakthrough reforms. They came with a revolutionizing reform Liberalisation. Liberalisation implies liberating the handle & industry from undesirable government controls and restriction. The new policies included opening for international trade and investment, deregulation, initiation of privatization, tax reforms, and inflation-controlling measures.

Liberalisation contains 2 things:- To allow clubby sector to run those industries which were earlier reserved for public sector. heartsease in rules and regulations made for private sector. New policies:- ?Exemption from licensing: In the industrial sector, industrial licensing was cut, leaving only 18 industries government issue to licensing. Industrial regulation was rationalized. {Mandatory licensing only 4 cigarettes, liquor, drugs, medicines etc} ? magnification of industry and Freedom of production: Industries could expand their capacity freely and diversify their output according to the needs of market. ?Raising effect of machinery and raw material: buying of unknown exchange and devising necessary imports to face open competition in the market. ? offset in 1994 of the National Stock Exchange as a computer-based trading system which served as an instrument to leverage reforms of Indias opposite stock exchanges. The NSE emerged as Indias largest exchange by 1996. ?Encouraging foreign direct investment by increasing the maximum ascertain on... If you want to get a full essay, order it on our website: Ordercustompaper.com

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