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What effects of liberalisation on the economy should I focus on for UPSC?

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  • Focus on increased FDI inflows, privatisation, and the shift from "license raj" to a market-driven economy.
  • Use Sleepy Classes’ Economy modules to analyse impacts on industrial growth, service sector dominance, and employment patterns.
  • Prioritise the 1991 LPG reforms, their effect on MSMEs, and the widening income inequality.
  • Integrate data on foreign exchange reserves and trade balance to assess India’s global competitiveness post-liberalisation.