RITWICK

SYRILARPIT

SHIVANGI ADITI

ISHASONIKA

SOUMYA

SANDEEP C

IMPACTS (Pre LPG) Low annual growth rate

• Stagnated around 3.5% (1950-1980)• Per capita income- 1.3%

License Limit – Build Huge Empires State owned enterprise made large losses Public sector monopoly License Raj

• Irresponsible, Self-perpetuating bureaucracy• Corruption Flourished

No Free market demand production Production- Government regulated Issues with import and Export outside the

country

source: DATABASE OF INDIAN ECONOMY

Foreign Tech Agreements Foreign Investment MRTP Act (1969)- Amended Industrial Licensing Deregulation Beginning of Privatization Opportunities for overseas trade Steps to regulate inflation Tax Reforms Abolition of License- Permit Raj

IMPACTS (Post LPG)

LPG PROCESS REFORMS 1991

Fiscal Reforms: Reduction in fiscal deficit by nearly two percentage points of GDP from 8.4 percent in 1990-91 to 6.5 percent in 1991-92.

Monetary and Financial Sector Reforms:  Reduction in Statutory Liquidity Ratio (SLR) and the Cash Reserve Ratio

(CRR). Greater competition among public sector, private sector and foreign

banks and elimination of administrative constraints.

Reforms in Capital Markets: The Securities & Exchange Board of India (SEBI) which was set up in 1988 was given statutory recognition in 1992 

LPG PROCESS REFORMS 1991(...Continued)

Industrial Policy Reforms:  Industrial licensing was abolished for all projects except in 18 industries. The public sector units were provided greater autonomy .

Trade Policy Reforms:Positive list of freely importable items replaced by a limited negative list .

Promoting Foreign Investment: In 1991, the government granted permission for Foreign Direct Investment

(FDI) . Foreign Investment Promotion Board (FIPB) was set up to negotiate with

international firms and approve direct foreign investment in select areas. Steps were also taken from time to time to promote Foreign Institutional

Investment (FII) in India.

Education and Employment.

International Trade.

Improves efficiency and profitability.

Improves the quality of decision making.

Domestic production is boosted.

ADVANTAGES OF LPG

CRITICISM OF LPG

Problems in implementation

Decline in demand for domestic products

Jobless growth

Undervaluation of public assets

Widening gap between the rich and the poor

SCOPE OF INNOVATION

Liberalization Privatization Globalization• Fundamental Laws• Revolutionized

Indian Economic System

• Job Creation• Diversified Market

Structure• Technical expertise (IT Boom)

• Technological Restructuring

• Foreign Policy Reforms

• Magnitude of MNCs• Service Sector • Efficiency• Share Market• Corporate Farming

• Education Infrastructure

• Growth of Cities• Demographic

Impacts• KPO & BPO • Small Scale

Industries• Expansion of the

Creative Influences (Abstract)

• Sustainable Development.

MAKE IN INDIA- The story so far

FDI inflow has increased to 29%. Jan, 2015-Spice Group started a mobile phone

manufacturing unit. Feb,2015: Huawei opened a new R&D campus August, 2015: Lenovo began manufacturing smart phone

in Chennai. Nov 2015: Railways inks pact with ALSTOM and GE

transport. October 2015: Boeing boost for Make in India.

JAN DHAN YOJANA- Progress report

Self reliance and self sustenance Focus on twin pillars Spending to be increased in all the sectors Corruption free administration Commitment of all concerned Long way to go

CONCLUSION