Hi....I needed answers for these questions......
Q1] Explain any 5 positive effects of Liberalization and Globalization in business and industry in India?
Q2] Explain any 5 negative impacts of Liberalization and Globalization on business and industry in India?
Q3] Explain any 5 impacts of changes in government policies on business and industry?
Q4] What is the significance of understanding business environment in shaping the future of business ?
Q5] Banking sector reforms has lead to easier credit terms and better services. this is an example of 1 of the key components of business environment. Name this component and explain in brief?
Please Reply Soon
Thank You
i. Under the policy of liberalisation, industrialists were permitted to import capital goods from foreign countries.
ii. With the commencement of reforms, the maximum limit has been increased from Rs 5 lakh to Rs 1 crore. This encouraged development and modernisation of the industries.
iii. With the introduction of liberalisation policy, the companies having assets worth more than Rs 100 crore were free to expand the scale of their business according to the market conditions.
iv. Under the new industrial policy 1991, compulsory licensing system was abolished. In other words, with the industrial reforms the private players were free to start a new venture without the need to obtain a license.
v. The number of industries exclusively reserved for the public sector was considerably reduced. The private sector was allowed operation in majority of the industries with only 3 industries under the exclusive purview of the government namely, railways, atomic mineral and atomic energy.
2. This topic is covered in our NCERT solutions. Follow the below mentioned link to view the same.
https://www.meritnation.com/cbse/class12-commerce/ncert-solutions/business-studies/principles-and-functions-of-management----ncert-solution/business-environment/page93-short-answers-qno5/1381_3721_30343/briefly-discuss-the-impact-of-government-policy-changes-on
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