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Economic Reforms1
MEPP Lectures 4-5-6
Economic Reforms in India Rationale, Scope, Progressand Unfinished Agenda
Dr. Tarun DasProfessor, IILM
 
Economic Reforms2
Contents of this presentation
What do we mean by economic reforms?
Why do we need these reforms?
How far have we progressed?
Where do we want to go?
How to prioritize, sequence these reforms with whatspeed and intensity?
What are their likely impact on growth, output andemployment?
What is our role in the progress of economic reforms?
 
Economic Reforms3
1.1 Indian Economy inPre-Reforms Period 
Mixed economy, but too closed
Far behind world wide globalisation
High level of control, licenses and regulation
Monopolistic practices in public utilities
Complex tax regime with high rates
High tariff walls & QRs on Imports
Rigid factor markets- land and labour 
High fiscal deficits and Public Debt
Precarious balance of payments
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