Question

Give a brief account of economic development in the post-economic reforms (1991) period.

Answer 1

1. After 1991 a wide-ranging programme of economic reforms was initiated.
2. The earlier framework of socialist pattern of development was given up.
3. India's economic and industrial growth rate increased, establishing the country as a stable economic power.
4. The development strategy aimed to encourage the private sector, boost production, create jobs, and elevate the income levels of the people.
5. The state, in collaboration with NGOs and voluntary organizations, continues to play a significant role in social development, especially in rural areas.
6. This involvement includes providing healthcare, education, and safe drinking water to people in rural areas.

7. The incidence of poverty has decreased from 54.7% in 2005 - 2006 to 27.5% in 2015 - 2016.