🌍 New Economic Policy 1991 | Economic Reforms in India | LPG, IMF, World Bank & Green Revolution
In this video, we break down India's New Economic Policy of 1991 and the major economic reforms that transformed the country. Learn about Liberalization, Privatization, and Globalization (LPG) and how organizations like the IMF, World Bank, and WTO played a crucial role in shaping India's economy.
📌 Timestamps:
0:00 Intro
0:38 Background of 1991 Economic Crisis
2:12 What is Foreign Exchange Reserves?
3:50 New Economic Policy 1991
4:27 Liberalisation
4:51 Deregulation of Industrial Sector
5:52 Financial Sector Reforms
7:03 Tax Reforms
8:03 Foreign Exchange Reforms
9:01 Trade and Investment Policy Reforms
9:40 Privatisation
10:29 Globalisation
10:57 What is Outsourcing?
11:45 World Trade Organisation
12:45 Assessment of Reforms
14:06 Criticism of Reforms
16:52 Conclusion
📖 Topics Covered:
✔️ Economic crisis of 1991 and its causes
✔️ Role of IMF & World Bank in India's reforms
✔️ Key reforms under Liberalization, Privatization, and Globalization (LPG)
✔️ Impact of the Green Revolution on India's economy
✔️ The rise of globalization and outsourcing
✔️ Assessment and criticism of economic reforms
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