LIBERALISATION
This 1991 reform abolished most industrial licensing requirements except for five specific industries.
Liberalisation
Privatisation refers to the transfer of ownership of public enterprises from this sector to another.
Public to Private
51% to 100%
The government allowed up to this percentage of foreign ownership in several sectors.
Gulf
war - oil price
This regulatory body was set up to supervise and regulate the capital market.
SEBI
Name any two industries reserved exclusively for the public sector after de-reservation.
Railways and Atomic
The policy allowing currency to be freely exchanged in the international market is known as this.
Convertibility of currency
15 - 20 days of foreign Exchange
Explain
This type of exchange rate was introduced post-1991,
Flexible Exchange Rate
This board was established to handle revival and restructuring of sick PSUs.
Board for Industrial and Financial Reconstruction (BIFR)
These two sectors emerged as the major beneficiaries under globalisation by providing jobs globally.
Information Technology (IT) and Business Process Outsourcing (BPO)
USSR
MARKET
Name any two infrastructure areas that were opened to private investments.
Roads and powerways
These PSUs were given enhanced financial and managerial autonomy under the liberalisation policy.
Navratna, Miniratna, and Maharatna companies
Any 2 points of Import Liberalisation
- Tarrif
Quatas
OLD POLICIES
U
Liberalisation aimed to end this system known for delays and corruption in approvals.
Licence Raj
The main purpose of the MOU system is to create a balance between these two aspects.
Autonomy and accountability
Definition of Globalisation
Globalisation integrates the economy of a country with these.through trade andtechnology
ALL REASONS
4 REASONS