International Research journal of Management Science and Technology
ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST
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IMPACT OF NEW ECONOMIC POLICY ON EXPORT PERFORMANCE OF INDIA
1 Author(s): DR. JYOTI GOEL
Vol - 7, Issue- 5 , Page(s) : 79 - 85 (2016 ) DOI : https://doi.org/10.32804/IRJMST
In early 1991, a major economic crisis surfaced in India which was the worst that this country had experienced since Independence. The origin of the crisis is directly attributable to the cavalier macro management of the economy during the 1980s when resulted in large and persistent macro economic imbalances. The growing fiscal deficits had to be met by borrowing at home. The growing difference between the income and expenditure of the economy as a whole resulted in huge current account deficits in the balance of payments which were financed by borrowing from abroad.