By Arnold Henry Savage Landor
Arnold Henry Savage Landor' memoirs of his day trip to unknown South the USA and his stumble upon with the local Bororo Indians. initially written in volumes, this publication comprises illustrations, maps, plates and images
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Many other reforms accompanied trade and foreign investment reform. Pakistan needs some reforms immediately: reducing government expenses and stopping unchecked hiring in public sector organisations, reducing internal and external debt, checking inflation, improving employment opportunities, and 18 2 South Asia: A Macro Overview providing the private sector a competitive market to play its role in national development. The challenge might be to bring political parties on a common ground for economic reform and improve the government’s willingness and capacity to deal with such issues.
For instance, the five-year plans of India resembled central planning in the Soviet Union. At the same time, the state was assigned a dominant role in the economy, particularly in the infrastructural sectors of communications, transport, and power (Srinivasan 2002). These import substitution strategies, coupled with the large public sector, resulted in rent-seeking activities2 and uncompetitive production processes (Bhagwati and Srinivasan 1975). India allocated imports on the basis of firm capacity, which led to rent seeking through capacity expansion (Krueger 1974).
1 External Sector Reforms Quantitative restrictions on imports have been fully removed. Customs duties have been rationalised and substantially reduced. As a result, trade-weighted nominal rate of protection indicates a substantial fall in protection, from about 80 % in the mid-1980s to about 40 % by 1993–1994 and further to around 15 % by 2007–2008. Reforms have also been executed on the foreign exchange front. The Nepalese rupee is fully convertible on the current account and capital account is partially liberalised.