Liberalisation, Privatisation and Globalisation – An Appraisal

Liberalisation, Privatisation and Globalisation – An Appraisal



Liberalisation, Privatisation and Globalisation – An Appraisal

During the tenure of Narasimha Rao Government (1991), India met with an economic crisis relating to its external debt. The government was unable to make repayments on its borrowings from abroad; foreign exchange reserves were not sufficient to repay the debts. The prices of essential goods were rising and the imports were growing at a very high rate.

As a result, the government initiated a new set of policy measures to reform the conditions of an economy and several economic reform programme were also introduced in this respect to promote privatisation, liberalisation and globalisation.




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