The product and capital market reforms continued slowly over the decade of the 1990s in India. The introduction of New Telecom Policy was also a milestone event in this regard. When was the New Telecom Policy introduced?
· The macroeconomic imbalances of the late 1980s and early 1990s pushed the government towards introducing the structural reforms of 1991. The high combined deficit of the central and state governments, elevated inflationary pressures, and large and unsustainable current account deficit (CAD) led to a balance of payments crisis in the Indian economy. In response to the situation, trade and investments were liberalised in 1991. · Import licensing on almost all intermediate inputs and capital goods was done away with, and the entry restrictions for firms were simplified. The new policy encouraged the entry of private sector firms by ending the public sector monopoly in many sectors and initiating the automatic approval policy for FDI up to 51 per cent. The exchange rate was made flexible and allowed to depreciate as necessary to maintain competitiveness. The rupee was made fully convertible on the current account and partially on the capital account. These reforms had a positive effect on the economy. · The product and capital market reforms continued slowly over the decade of the 1990s through the introduction of New Telecom Policy 1999. And the government set up a dedicated Ministry to take this agenda forward. It sold equity stakes in some CPSEs and privatised companies such as Maruti Udyog, Hindustan Zinc, Bharat Aluminum, and Videsh Sanchar Nigam Limited.
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Since the middle of the previous decade, RBI and the government have made dedicated efforts in terms of calibrated policy measures like strengthening th...
What is the projected fiscal deficit of the Union Government for FY23 according to the Economic Survey of 2022-23?
What is the purpose of the Standing Deposit Facility (SDF) introduced by the RBI in April 2022?
Rural youth belonging to poor families are identified and trained for Self-employment in RSETIs. What does the “E” stand for in RSETIs?
The Reserve Bank of India (RBI) has granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA). ...
The Reserve Bank of India (RBI) has granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA). ...
Which of the following organisations come up with Inflation Expectations Survey of Households (IESH)?
Which of the following Statements is/are True?
I- AT-1 bonds are a type of unsecured, perpetual bonds.
II- The return on AT-1 bonds is usu...