Economic Reforms Since 1991

After 1991, the financial sector of India is allowed to take decisions on many matters without consulting the RBI.

Devaluation of rupee in 1991 has led to an increase in inflow of the foreign exchange.

Tariffs and Quotas increased the efficiency and competitiveness of the manufacturing sector.

Public investment in the agricultural sector has been reduced after 1991.

Economic reforms in 1991 have generated increased tax revenue for the government.

A severe financial crunch forced India to make economic reforms in 1991.