Question

22. What is liberalisation
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Answer 1

Answer:

The economic liberalisation in India referred to the economic liberalisation of the country's economic policies, initiated in 1991 with the goal of making the economy more market- and service-oriented, and expanding the role of private and foreign investment

Answer 2

Answer:

Liberalization (or liberalisation) is a process whereby a state lifts restrictions on some private individual activities.

Liberalization occurs when something which used to be banned is no longer banned, or when government regulations are relaxed. Economic liberalization is the reduction of state involvement in the economy.