Why are structural reforms also referred to as microeconomic structural adjustment measures?

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Solution

Structural reforms are also referred to as 'Microeconomic structural adjustment measures' as they are targeted at specific sectors of the economy. These measures are related to the changes made in industrial policy, trade policy, public sector policy, price policy and tariff policy.

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Q22. The New Economic Policy (NEP) of 1991 is also called as

i) L.P.G programme

ii) Structural adjustment programme

iii) Economical Readjustment programme

iv) Quick Recovery Programme

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