give any factor responsible for new economic policy of liberalisation, privatisation and globalisation?

The new economic policy was implemented as a result of failures of economic planning in India during 1950 - 1990. This topic is already covered in our study material. Follow the given link and scroll down to the topic 'Failures of plannning in India' to view the same.

https://www.meritnation.com/cbse/class11-commerce/studymaterial/economics/indian-economic-development/unit-iindian-economy-1950-1990/442_2484_6372#slide6_critical-appraisal-of-planning-in-india-–-achievement-and-failure