Economic Reforms Since 1991 · Indian Economic Development

The 1991 Crisis and Liberalization

Understanding the Balance of Payments crisis that forced structural changes in the Indian economy.

Key Questions

  1. 1What trade-offs did India face when accepting the conditions of the IMF and World Bank?
  2. 2How did the removal of the 'License Raj' change the incentives for domestic entrepreneurs?
  3. 3Who were the primary winners and losers in the immediate aftermath of market liberalization?

CBSE Learning Outcomes

CBSE: Liberalisation, Privatisation and Globalisation: An Appraisal - Class 12
Class: Class 12
Subject: Economics
Unit: Economic Reforms Since 1991
Period: Indian Economic Development

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Globalization and the Indian Market

Evaluating the integration of the Indian economy with the global market and the rise of the services sector.

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