What was the primary goal of the 1991 industrial policy?

This video provides a concise explanation of the primary goal of India's 1991 industrial policy, perfect for anyone studying for multiple-choice question (MCQ) exams or needing a quick refresher on the topic. We break down the complex policy into easily digestible segments, focusing specifically on its overarching objective. Forget lengthy lectures – this short video gets straight to the point, eliminating unnecessary details and focusing only on the crucial information needed to answer MCQ-style questions.

We explore the context of the 1991 policy, highlighting the economic crisis that precipitated its implementation and the key shifts in the Indian economy it aimed to achieve. We debunk common misconceptions and clarify the distinctions between the 1991 policy and its predecessors. The video uses clear and simple language, avoiding jargon and technical terms that can often confuse students. Visual aids, such as timelines and key terms, enhance comprehension and aid memorization.

By the end of this video, you'll have a clear and confident understanding of the 1991 industrial policy's primary goal, enabling you to accurately answer related MCQ questions with ease. This is your go-to resource for efficient and effective learning.

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Privatization

Privatization was the primary goal of the 1991 industrial policy. This policy aimed to reduce the role of the public sector in the economy and promote private sector participation through deregulation, liberalization, and the opening up of industries to foreign investment.

Import substitution: This was a strategy pursued in earlier decades and was being reversed in 1991. The 1991 policy aimed to reduce trade barriers, not build them.
Export promotion: While export promotion was a component, it was a secondary objective achieved via the broader economic reforms, not the defining primary goal.
Selfreliance: The policy moved away from the inwardlooking approach of selfreliance and towards greater integration with the global economy.

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