📝 One-liners · 87 cards

Economic Reforms

What is 24 July 1991?

is universally summarised as LPG: Liberalisation, Privatisation, Globalisation.

What is Statement on Industrial Policy of 24 July 1991?

is the single most important policy document of the reform era.

1990-91 — Peak Customs Duty / Average Customs Duty?

Peak Customs Duty: ~ 355 %; Average Customs Duty: ~ 87 %

1995-96 — Peak Customs Duty / Average Customs Duty?

Peak Customs Duty: 50 %; Average Customs Duty: ~ 27 %

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