Chapter 8 of 25
Concept Maps
Structural Changes in the Indian Economy after Liberalization — Concept Maps
ICSE · Class 11 · Economics
4 concept maps of Structural Changes in the Indian Economy after Liberalization for ICSE Class 11 Economics, each also written out as a text outline.
45 questions42 flashcards2 formulas & key relations5 concepts
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4 Concept Maps
Complete Chapter Overview: Structural Changes in Indian Economy after 1991
The map in words
- LPG Reforms 1991
- Why Reforms Needed
- BOP Deficit
- External debt 23 percent of GDP
- Forex Crisis
- Only 2 weeks import cover
- Fiscal Deficit
- Rose to 8.4 percent of GDP
- PSU Failure
- Losses and corruption
- High Inflation
- Above 17 percent
- BOP Deficit
- Liberalisation
- Industrial Reforms
- Delicensing
- Public sector 17 to 2 industries
- MSME Act 2006
- Financial Reforms
- SLR reduced 25 to 18 percent
- CRR reduced 15 to 4 percent
- Private banks allowed
- Tax Reforms
- Lower income tax
- GST from July 2017
- Trade Reforms
- Import duties reduced
- SEZs established
- FEMA replaced FERA
- Industrial Reforms
- Privatisation
- Disinvestment
- Minority Sale
- Strategic Sale
- Navratna Policy 1996
- 16 Navratnas
- 8 Maharatnas
- Miniratnas
- Public sector contracted
- 17 to 2 industries
- Disinvestment
- Globalisation
- Factors Enabling
- Technology ICT
- Liberalisation
- WTO
- Set up 1995
- Geneva Switzerland
- 159 members
- India founder member
- Outsourcing
- India as BPO hub
- Factors Enabling
- Impacts of LPG
- Positive
- FDI 100M to 49.3B dollars
- Forex 6B to 596B dollars
- Inflation 17 to 3 percent
- Service sector growth
- Negative
- Jobless Growth
- Agriculture neglected
- MNC dominance
- Unbalanced growth
- Poverty widespread
- Positive
- Structural Changes
- Agriculture
- GDP share 34.9 to 16 percent
- Industry
- GDP share 24.6 to 30 percent
- Services
- GDP share 40.5 to 54 percent
- Agriculture
- Why Reforms Needed
LPG Model — New Economic Policy 1991
The map in words
- LPG Model 1991
- Liberalisation
- Industrial Reforms
- De-licensing
- Public sector reduced
- MSME Act 2006
- Financial Reforms
- SLR reduced to 18%
- CRR reduced to 4%
- Private banks allowed
- Tax Reforms
- Income tax reduced
- GST 2017
- Trade Reforms
- Import duties reduced
- FERA replaced by FEMA
- SEZs established
- Industrial Reforms
- Privatisation
- Disinvestment
- Minority Sale
- Strategic Sale
- Navratna Policy
- 8 Maharatnas
- 16 Navratnas
- Miniratnas
- Public Sector Contraction
- 17 to 2 reserved sectors
- Disinvestment
- Globalisation
- Foreign Trade
- Abolish QR on imports
- Reduce tariffs
- Foreign Investment
- FDI increased
- FII allowed
- WTO Membership
- Founded 1995
- Geneva HQ
- Technology
- ICT revolution
- Transport improvements
- Foreign Trade
- Liberalisation
Mind map showing the key characteristics of India's controlled pre-reform economy with emphasis on government dominance and private sector restrictions
The map in words
- Pre-Reform Economy
- Public Sector Dominance
- Key industries reserved
- Heavy investment
- Government control
- Private Sector Restrictions
- Industrial licensing required
- Limited expansion
- No multinational entry
- Trade Barriers
- High import duties
- Quota systems
- Limited exports
- Government Control
- Banking sector
- Stock exchange
- Taxation policy
- Public Sector Dominance
Post-1991 economic reforms and their impact on the Indian economy
The map in words
- Post-1991 economic reforms and their impact on the Indian economy
- Economic system on the eve of reforms
- Meaning of economic reforms
- Objectives of economic reforms
- Need for economic reforms
- Liberalisation
- Privatisation
- Globalisation
- Industrial sector reforms
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Explore DiagramsFrequently Asked Questions
What are the important topics in Structural Changes in the Indian Economy after Liberalization for ICSE Class 11 Economics?
Key topics in Structural Changes in the Indian Economy after Liberalization include Economic System Before Reforms, Meaning, Classification, and Objectives of Economic Reforms, Need for Economic Reforms, Liberalisation and Major Sectoral Reforms. Study these first, then practise questions on each for Class 11 exams.
What do the concept maps for Structural Changes in the Indian Economy after Liberalization show?
The 4 maps show how the ideas in Structural Changes in the Indian Economy after Liberalization connect: Complete Chapter Overview: Structural Changes in Indian Economy after 1991; LPG Model — New Economic Policy 1991. Each map is also written out as an outline on this page.
How should I revise Structural Changes in the Indian Economy after Liberalization for Class 11 exams?
Learn the core ideas first, then work through the 45 practice questions on Structural Changes in the Indian Economy after Liberalization. Revise definitions regularly and use flashcards for quick recall before the exam.
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Chapter Summary
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