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Assessment of NIP, 1991 (Industrial policy reforms (Industrial licensing…
Assessment of NIP, 1991
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Trade Policy reforms
Import licensing discontinued i.e Lowered tariff on imports + Major source of corruption and inefficiency ↓
In 2001 , India began to remove quantitative restrictions on consumer goods.
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Telecommunication
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Access to telecom services expanded greatly, cost ↓, quality improved
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Power sector
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Financial problems of distribution segment bcoz Low tariffs for some section of consumers, Large inefficiences in collection
Electricity act, 2003 empowers state govt to accelerate power sector reforms. ↑ Involvement of pvt sector
PSU's
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Less performing PSU's languished for public funds & political will to restructure privatize or close down.
Later Disinvestment commission set up, but privatization not seriously put on policy agenda. However renewed focus on disinvestment to ↑ efficiency of public sector