Toshnil GS presentation.pptx LPG reforms

Gs PPT presentation on LPG reforms ie
Liberalisation, privatization and globalisation everything regarding lpg

1. Toshnil Salam Bacs Topic : lpg reforms

2. Liberalization, the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters such as abortion and divorce, liberalization is most often used as an economic term. In particular, it refers to reductions in restrictions on international trade and capital.

3. Privatization occurs when a government-owned business, operation, or property becomes owned by a private, non-government party. Privatization also may describe a transition that takes a company from being publicly traded to becoming privately held.

4. Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result.

5. About 02 03 04 The  LPG Reforms  were introduced at a time when the Indian economy was facing a balance of payment crisis. These reforms were introduced to promote economic growth and improve India's foreign exchange situation. 01

6. 02 01 03 04 05 1991 India made LPG reforms in 1991. LPG reforms are also known as liberalization, privatization and globalization reforms. They have transformed the way India as an economy works and opened the country up to the world for trade and commerce. When

7. 03 02 04 05 These reforms were introduced by our Former Prime Minister, Shri P V Narasimha Rao , and former Finance Minister, Dr Manmohan Singh By Whom 06

8. 04 03 05 The pre-LPG Reform era in India had an obsolete, colonial economic policy that involved high state interference in the market. India was a closed economy with little to no foreign trade and very little private ownership. The LPG Policy aimed to place India in the global economy by aligning its economic goals with global economic goals. WHY 06 07

9. 05 04 06 The reforms focused on changing the Indian economy from the Soviet model to a market economy with less government control and more economic activity. The LPG Reforms 1991 aimed to resolve the balance of payments crisis and increase India's foreign exchange reserves. The policy encouraged economic growth and economic expansion into the global trade markets. The LPG Policy in India allowed the international flow of goods, services, and capital. It encouraged increased participation of private entities in various sectors of the economy. Objectives 07

10. 06 05 07 The reforms helped India overcome a balance of payments crisis and reduced India's dependence on foreign loans. The LPG Reforms helped the government with its fiscal deficit by privatizing inefficient or loss-making PSUs, thereby reducing government expenditure and losses. The LPG Policy of 1991 fostered economic growth by reducing government restrictions. This encouraged the entry of private players into the market which introduced competition to counter state monopolies. LPG Reforms in India enabled the country to participate in global trade markets and establish its place as a major developing country. Benefits

11. 07 06 Thank you