Question

Impact of liberalization, privatization and globalization on governance

Answer 1

Liberalization is defined as making economics free to enter the market and establish their venture in the country.  

Privatization is defined as when the control of economic is shifted from public to a private hand.

Globalization is described as the process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade.

Liberalization, Privatization and Globalization improves industrial sector through modern technology, lessen the burden of foreign debt, increases the rate of employment and reduce poverty in India.