Question

Define liberalisation. Various liberalisation measures taken by the government of india

Answer 1

Liberalization refers to removing all the barriers on trade and its components for the free flow of goods and services without any hurdles.
India adopted this in 1991 and all barriers on trade are removed. Certain rules still apply but overall, the trade has become more cleaner and free from all bureaucracy.

Answer 2

Hey your Answer is here

Liberalisation of the country means to free it from direct or physical controls or restrictions imposed by the government.

It can be similar to deregulation.

Measures of liberalisation taken by the government of India are as follows :-

1. Exemption of industries from licensing - All industries except alcohol, hazardous chemicals, cigarettes, drugs and explosives are exempted from industrial licensing.

2. Expansion of industries - There is no ceiling for capital. Industries can expand according to the needs of the market.

3. Freedom of production - producers can produce goods of their choice.

4. Concept of MRTP is not applicable-

The companies can make their own investment decisions and expansion plans.

5. The investment limit of small industries has been raised to one crore. So they can modernize their industries.

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