In 1991, India has adopted LPG (Liberalization, Globalization and Privatization) system after facing long economic problems. At that time, it was very crucial to work towards economic reforms to make country socially and economy stabilized. In this article we will discuss about LPG system as well as why economic reforms are needed in India in 1991 in 4 parts. LPG system 1991- Since after independence, when Britishers had left India, slowly nationalization process was taken place and Indian economy was mainly closed in nature means, very less trade engagement and investment at international level, most of the economic activities was lying with the hand of government and private entities played minimal role in economic development of nation. But by 1991, Indian economy was facing many problems including high inf...
1991 में , भारत ने लंबी आर्थिक समस्याओं का सामना करने के बाद LPG (उदारीकरण-Liberalazation , निजीकरण-Privatization और वैश्वीकरण-Globalization) की प्रणालियों को अपनाया है। उस समय , देश को सामाजिक और अर्थव्यवस्था को स्थिर बनाने के लिए आर्थिक सुधारों की दिशा में काम करना बहुत महत्वपूर्ण था। इस लेख में हम एलपीजी प्रणाली के बारे में और साथ ही 1991 में भारत में आर्थिक सुधारों की आवश्यकता क्यों थी, इ स प र 4 भागों में चर्चा करेंगे। एलपीजी प्रणाली 1991- स्वतंत्रता के बाद , जब अंग्रेजों ने भारत छोड़ दिया था , धीरे-धीरे राष्ट्रीयकरण की प्रक्रिया हुई और भारतीय अर्थव्यवस्था मुख्य रूप से प्रकृति में बंद (Closed economy) थी , अंतर्राष्ट्रीय स्तर पर बहुत कम व्यापार जुड़ाव और निवेश , अधिकांश आर्थिक गतिविधियां सरकार के हाथ में और निजी संस्थाओं ने राष्ट्र के आर्थिक विकास में न्यूनतम भूमिका निभाई थी। लेकिन 1991 तक , भारतीय अर्...
Privatization It is defined as “Transfer of ownership, Management and control of PSEs (Public Sector Enterprises) to private entities. ” Objectives of Privatization Ø To improve financial strength of economy Ø To provide strong momentum for capital inflow in terms of FDI and FPI Ø To improve efficiencies of PSUs Ø To build new infrastructure for economic growth and development. Ø To introduce new and advanced technology Advantages of Privatization – Ø Optimum utilization of resources Ø Improved performance and customer services Ø Political non-interference Ø Generation of new employment opportunities Ø Establishment of economic democracy Ø Enhanced productivity, efficiency and effectiveness due to increased competition Ø Participation of private entities in economic growth. Ø Increase financial resources and government revenues can be used in infrastructure develo...
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