Economic reforms since 1991| Class 12 | Indian Economic Development | 20 Min One Shot скачать в хорошем качестве

Economic reforms since 1991| Class 12 | Indian Economic Development | 20 Min One Shot

📌 Economic Reforms Since 1991 | Class 12 Economics | One-Shot 25-Minute Complete Revision Welcome to this detailed one-shot revision video on Chapter 3: Economic Reforms Since 1991 for Class 12 Economics. This 25-minute video covers everything you need to know in a simple, exam-oriented, and easy-to-understand manner. Whether you are revising before an exam or trying to understand the chapter for the first time, this video is your ultimate guide to mastering India’s economic transformation after 1991. --- 📌 Video Timestamps: ⏳ 00:00 – Introduction – Why 1991 was a turning point for India’s economy ⏳ 01:20 – Economic Crisis of 1991 – Causes and impact of the crisis ⏳ 03:45 – New Economic Policy (NEP) 1991 – The LPG model (Liberalization, Privatization, Globalization) ⏳ 05:15 – Liberalization – Removal of government restrictions on industries ⏳ 07:30 – Privatization – Selling government-owned businesses to private players ⏳ 09:10 – Globalization – Opening up India’s economy to the world ⏳ 11:00 – Industrial Reforms – Abolition of License Raj, FDI policies, and trade liberalization ⏳ 13:15 – Financial Sector Reforms – Role of RBI, private banks, and SEBI ⏳ 15:00 – Trade & Investment Reforms – Foreign Exchange Management Act (FEMA) and WTO integration ⏳ 16:45 – Tax Reforms – Simplifying taxation, corporate tax cuts, and GST ⏳ 18:30 – Impact of LPG Reforms – Positive effects on GDP, jobs, and foreign reserves ⏳ 21:15 – Challenges & Criticism – Income inequality, unemployment, and impact on small businesses ⏳ 23:00 – Was the 1991 Reform a Success? – Evaluating the long-term impact ⏳ 24:15 – Exam Tips & Quick Revision – Key points and NCERT-based insights --- 🔴 What You Will Learn in This Video 1️⃣ Introduction to Economic Reforms (Why Was 1991 a Turning Point?) ✔️ Understanding economic reforms and why they were needed. ✔️ The impact of government control on the economy before 1991. ✔️ How the Indian economy functioned under the License Raj system. ✔️ Challenges like low growth rate, high fiscal deficit, and lack of foreign reserves. 2️⃣ Background of the 1991 Economic Crisis (What Led to the Reforms?) ✔️ Why was India facing an economic crisis in 1990-91? ✔️ Causes of the crisis: High government spending, low industrial growth, trade deficit, and inflation. ✔️ The impact of global oil price shocks and balance of payments (BoP) crisis. ✔️ How India nearly ran out of foreign exchange and had to pledge its gold reserves. 3️⃣ The New Economic Policy (NEP) of 1991 ✔️ In July 1991, the Government of India, under Prime Minister P.V. Narasimha Rao and Finance Minister Dr. Manmohan Singh, introduced a series of structural reforms. ✔️ The goal was to stabilize the economy and integrate India with the global market. ✔️ Three pillars of NEP 1991: ✅ Liberalization – Reducing government control over industries. ✅ Privatization – Selling government-owned businesses to private players. ✅ Globalization – Encouraging international trade and foreign investments. --- 4️⃣ Detailed Analysis of LPG Reforms 🔹 Liberalization (Removing Government Controls) ✔️ Deregulation of industries and removal of License Raj. ✔️ Reduction in import duties and foreign trade restrictions. ✔️ Relaxation of FDI (Foreign Direct Investment) policies. ✔️ Encouraging private sector participation in banking, insurance, and telecom. 🔹 Privatization (Encouraging Private Sector Participation) ✔️ Disinvestment – Selling shares of public sector enterprises (PSUs) to private firms. ✔️ Reduction in government ownership in industries like airlines, banking, and telecom. ✔️ Growth of private companies like Reliance, Tata, Infosys, and Wipro. 🔹 Globalization (Connecting India with the World Economy) ✔️ Opening up India’s markets to foreign companies. ✔️ Expansion of IT and outsourcing industries. ✔️ Entry of global brands like Pepsi, McDonald's, and Samsung. ✔️ India's participation in World Trade Organization (WTO) and global trade agreements. --- 5️⃣ Sectoral Reforms (Major Changes in Different Sectors) 📌 Industrial Sector Reforms ✔️ Abolition of industrial licensing for most industries. ✔️ Reduction in import duties on raw materials and machinery. ✔️ Foreign investments allowed in key industries. --- 6️⃣ 📢 Call to Action: Like, Subscribe & Share! ✔️ LIKE & COMMENT if this video helped you. ✔️ SUBSCRIBE for more one-shot revision lectures and exam tips. ✔️ SHARE this with your classmates to help them ace their exams too! #Class12Economics #EconomicReforms1991 #OneShotRevision #LPGReforms #CBSE#ideainfusion #EconomicsExam #BrainwaveBytes