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Syllabus

LPG Model — Syllabus

ICSE · Class 9 · Economics

What LPG Model covers in ICSE Class 9 Economics: 4 topics, for the 2026-27 session. Part of the ICSE Class 9 Economics syllabus.

66 questions34 flashcards5 concepts

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4 Topics · ICSE Class 9 Economics · 2026-27

Topics in LPG Model

1

1. Meaning and Objectives of LPG Model

  • Economic reforms in India mean all policy measures introduced since 1991 to improve efficiency, productivity, and profitability.
  • The LPG policy is popularly known as the LPG Model of Growth or New Economic Policy.
  • NEP 1991 was introduced by the Indian Government under PV Narsimha Rao as Prime Minister and Manmohan Singh as Finance Minister.
2

2. Liberalisation

  • Liberalisation means liberating trade and industry from unwanted government controls and restrictions.
  • It means freedom from direct and physical controls imposed by the government.
  • It also means removal of restrictions to promote economic growth and development.
3

3. Privatisation

  • Privatisation means reducing the participation of the state or public sector in economic activities.
  • It gives a greater role to private capital and enterprise.
  • The number of public sector undertakings was reduced from 17 to 2 sectors only.
4

4. Globalisation

  • Globalisation means integrating the domestic economy with the world economy.
  • It involves interaction with other countries in production, trading, and financial transactions.
  • Globalisation includes movement of both capital and labourers from one country to another.

Key Concepts

Central concept: LPG Model or New Economic Policy

Meaning of LPG ModelObjectives of LPG ModelLiberalisationPrivatisationGlobalisationMeasures of LiberalisationMeasures of PrivatisationMeasures of Globalisation

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Frequently Asked Questions

What are the important topics in LPG Model for ICSE Class 9 Economics?
Key topics in LPG Model include Meaning and Objectives of LPG Model, Liberalisation, Privatisation, Globalisation. Study these first, then practise questions on each for Class 9 exams.
How should I revise LPG Model for Class 9 exams?
Learn the core ideas first, then work through the 66 practice questions on LPG Model. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All ICSE Class 9 Economics Syllabus

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