International Financial Management: An Analytical Framework

CHAPTER 22

Liberalization

CHAPTER OUTLINE

• Background

• Policy Changes

• Economic Liberalization

• Meaning of Liberalization

• The Path of Liberalization

• Reform Achievements

• Industrial Growth

• Liberalization—An Assessment

• Liberalization and Growth of Indian Economy

• Issues and Challenges

• Case

• Key Words

• Questions

• References

BACKGROUND

The emergence of independent India on August 15, 1947, was the beginning of a new, glorious era in the history of our country. The Government of India set up the Planning Commission in 1950 to assess the country’s needs of material capital and human resources in order to formulate plans for their more balanced and effective utilisation. Since 1950–51, India has passed through 10 five-year ...