Question

Explain briefly the three economic policies of India

Answer 1

Instructions: briefly explain the aims of agriculture, industrial and trade policies.
Solution:

1. Agricultural policy: the aim of such policies is to increase productivity of domestic produce. Some of the important policies has been green revolution, land reform, minimum price policy etc.
2. Industrial policy: the aim of such policies is employment creation, develop trade, etc. Some of the important policies price policy of industrial growth, small scale industrial policy and industrial labour policy.
3. New economic policy: Liberalisation, globalisation and privatisation policies were the new economic reforms. The aim of these policies was to make India fastest growing economy in the world.