Mains Paper II · 1 Indian Economy · 1.5 Economic reforms since 1991

1.5.2 LPG reforms: liberalisation, privatisation and globalisation – an assessment

The New Economic Policy of 1991 opened India through liberalisation (fewer controls), privatisation (a smaller role for the State) and globalisation (integration with world markets), which raised growth but left gaps in jobs, agriculture and equity.

  • APPSC Group 2 · Mains Paper II
  • Advanced level
  • 6 min read
  • Full course

Key terms

  • LPG
  • liberalisation
  • privatisation
  • globalisation
  • Narasimham Committee
  • Chelliah Committee
  • Malhotra Committee
  • FEMA
  • WTO
  • current account convertibility
  • FDI
  • financial sector reform

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

Read the full note in the app. It is part of the APPSC Group 2 full course in Medha AI. Free in the app: the first chapter of each topic.

Read the full note in the app Indian Economy questions with answers

All Economic reforms since 1991 notes · APPSC Group 2 syllabus · APPSC G2 Prelims Mock 1 with answers · Start free

Medha AI writes its own notes and checks them against the sources listed. Medha AI is an independent preparation service. It is not affiliated with, endorsed by or connected to APPSC, TSPSC, MPSC, UPSC or any other commission or government body.