This article provides information about the current account deficit and 1979 oil crisis that led to the liberalisation of Indian economy: India had a persistent current account deficit since oil shocks in 1973 and 1979 but some believe that the situation worsened from the mid-1980s when the Rajiv Gandhi government relaxed import restrictions on many… Continue reading 1979 Oil Crisis that Led to the Liberalisation of Indian Economy
Category: Economics
Different Ways to Stabilise the Government Revenue in India
This article provides information about the Different Ways to Stabilise the Government Revenue in India ! The government could however reduce its deficit by increasing revenues – by either increasing taxes or through higher profits of the public sector enterprises. As part of the reform package, in order to reduce its liabilities, the government decided… Continue reading Different Ways to Stabilise the Government Revenue in India
Liberalisation : Impact of Liberalisation on Indian Economy
This article provides information about the impact of liberalisation on Indian economy: Liberalisation on the external account implies making the flow of goods in and out of the country easier. This can involve a reduction in procedures as well as tariffs or removal of quotas. Quotas on import of various commodities had earlier been introduced… Continue reading Liberalisation : Impact of Liberalisation on Indian Economy