<P> The economic liberalisation in India refers to the economic liberalisation , initiated in 1991 , of the country 's economic policies , with the goal of making the economy more market and service - oriented and expanding the role of private and foreign investment . Specific changes include a reduction in import tariffs , deregulation of markets , reduction of taxes , and greater foreign investment . Liberalisation has been credited by its proponents for the high economic growth recorded by the country in the 1990s and 2000s . Its opponents have blamed it for increased poverty , inequality and economic degradation . The overall direction of liberalisation has since remained the same , irrespective of the ruling party , although no party has yet solved a variety of politically difficult issues , such as liberalising labour laws and reducing agricultural subsidies . There exists a lively debate in India as to what made the economic reforms sustainable . </P>
<P> The economic liberalisation in India refers to the economic liberalisation , initiated in 1991 , of the country 's economic policies , with the goal of making the economy more market and service - oriented and expanding the role of private and foreign investment . Specific changes include a reduction in import tariffs , deregulation of markets , reduction of taxes , and greater foreign investment . Liberalisation has been credited by its proponents for the high economic growth recorded by the country in the 1990s and 2000s . Its opponents have blamed it for increased poverty , inequality and economic degradation . The overall direction of liberalisation has since remained the same , irrespective of the ruling party , although no party has yet solved a variety of politically difficult issues , such as liberalising labour laws and reducing agricultural subsidies . There exists a lively debate in India as to what made the economic reforms sustainable . </P>
when was the new liberalised policy announced in india
when was the new liberalised policy announced in india
1991
1991