State the basic and main objectives of new economic policy?

Question: State the basic and main objectives of new economic policy?

The New Economic Policy (NEP) was introduced in India in 1991 with the main objective of liberalizing and modernizing the country's economy. The basic objective of the NEP was to shift the focus from a heavily regulated and controlled economy to a more open and market-oriented system. The main objectives of the NEP included reducing the role of the public sector in the economy, encouraging foreign investment, liberalizing trade policies, and deregulating various sectors. The NEP also aimed to promote technological development and innovation, improve infrastructure, and increase efficiency in various industries.

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