Question

impact of liberalisation on indian economy four points

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Answer 1

Answer:

Liberalisation in India

• Since the adoption of the New Economic Strategy in 1991, there has been a drastic change in the Indian economy.

• With the arrival of liberalisation, the government has regulated the private sector organisations to conduct business transactions with fewer restrictions.

• For developing countries, liberalisation has opened economic borders to foreign companies and investments.

• Earlier, Investors has to encounter difficulties to enter countries with many barriers.

• These barriers included tax laws, foreign investment restrictions, accounting regulations, and legal issues. 

• The economic liberalisation reduced all these obstacles and waived few restrictions over the control of the economy to the private sector.