<Table> <Tr> <Td> </Td> <Td> This article may require cleanup to meet Wikipedia's quality standards . The specific problem is: repeated information and poor organisation Please help improve this article if you can . (August 2014) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article may require cleanup to meet Wikipedia's quality standards . The specific problem is: repeated information and poor organisation Please help improve this article if you can . (August 2014) (Learn how and when to remove this template message) </Td> </Tr> <P> The economic liberalisation in India refers to the economic liberalisation, initiated in 1991, of the country's economic policies, with the goal of making the economy more market and service - oriented and expanding the role of private and foreign investment . Specific changes include a reduction in import tariffs, deregulation of markets, reduction of taxes, and greater foreign investment . Liberalisation has been credited by its proponents for the high economic growth recorded by the country in the 1990s and 2000s . Its opponents have blamed it for increased poverty, inequality and economic degradation . The overall direction of liberalisation has since remained the same, irrespective of the ruling party, although no party has yet solved a variety of politically difficult issues, such as liberalising labour laws and reducing agricultural subsidies . There exists a lively debate in India as to what made the economic reforms sustainable . </P> <P> Indian government coalitions have been advised to continue liberalisation . Before 2015 India grew at slower pace than China which has been liberalising its economy since 1978 . But in year 2015 India outpaced China in terms of GDP growth rate . The McKinsey Quarterly states that removing main obstacles "would free India's economy to grow as fast as China's, at 10% a year". </P>

When was the new liberalised policy announced in india