Question

(6) What is the meaning of liberalisation?
long answer​

Answer 1

Answer:

Meaning of Liberalisation

Liberalisation is the process or means of the elimination of the control of the state over economic activities. It provides greater autonomy to the business enterprises in decision-making and eliminates government interference.

Answer 2

Answer:

Liberalisation is the process or means of the elimination of the control of the state over economic activities. It provides greater autonomy to the business enterprises in decision-making and eliminates government.

Explanation:

Liberalisation was begun to put an end to these limitations and open multiple areas of the economy. Though some liberalisation proposals were prefaced in the 1980’s in areas of export-import policy, technology up-gradation, fiscal policy and foreign investment, industrial licensing, economic reform policies launched in 1991 were more general. There are a few significant areas, namely, the financial sector, industrial sector, foreign exchange markets, tax reforms and investment and trade sectors which gained recognition in and after 1991.