HOW DO YOU ASSESS THE PERFORMANCE OF INDIAN ECONOMY DURING THE INITIAL YEARS OF GLOBALISATION SINCE 1991?Note:
Globalization is a difficult term to define because it has come to mean so many things. [ In general, globalization refers to the trend toward countries joining together economically, through education, society and politics, and viewing themselves not only through their national identity but also as part of the world as a whole. Globalization is said to bring people of all nations closer together, especially through a common medium like the economy or the Internet. ] Auto answered|Score .9008|majasalv17|Points 0|Note:
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Indian economy had experienced major policy changes in early 1990s. [ The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient.
With the onset of reforms to liberalize the Indian economy in July of 1991, a new chapter has dawned for India and her billion plus population. This period of economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy.
] Expert answered|patricktek|Points 27|
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