Economic Policies and Reforms

Lal Bahadur Shastri introduced the Green Revolution in India in the mid-1960s, which aimed to increase agricultural production and achieve self-sufficiency in food grains.

License Raj was a system of extensive government control and regulation over industries and businesses in India, which was prevalent from the 1950s to the 1990s.

Swadeshi, meaning 'of one's own country', was an economic policy that promoted self-reliance and import substitution, encouraging the use of domestic goods and industries.

LPG Reforms refer to the economic reforms introduced in India in the early 1990s, which focused on liberalization of the economy, privatization of state-owned enterprises, and globalization.

P. V. Narasimha Rao, as the Prime Minister of India from 1991 to 1996, initiated the process of economic liberalization, which marked a significant shift in the country's economic policies.

Make in India is a government initiative launched in 2014 to promote domestic manufacturing and reduce India's reliance on imports.

Axis Bank is a private sector bank in India, while State Bank of India, Punjab National Bank, and Bank of Baroda are major public sector banks.

Demonetization refers to the withdrawal of high-value currency notes from circulation, typically as a measure to combat corruption, black money, and counterfeit currency.

The National Rural Employment Guarantee Act (NREGA) was introduced in 2005 to provide employment guarantee to rural households in India, ensuring at least 100 days of wage employment in a financial year.

Fiscal Deficit is the difference between government expenditure and revenue, indicating the amount of money the government borrows to meet its expenses.

Pradhan Mantri Jan Dhan Yojana was launched in 2014 to provide financial inclusion and access to banking services to the unbanked population in India.

Inflation refers to a general increase in prices and a fall in the purchasing value of money, leading to a decrease in the real value of goods and services.

Pradhan Mantri Awas Yojana (PMAY) was launched in 2015 to provide affordable housing to the urban poor in India.

Gross Domestic Product (GDP) is the total value of goods and services produced in a country in a given period, typically a year.

Pradhan Mantri Ujjwala Yojana was launched in 2016 to provide subsidized cooking gas connections to poor households in India.