Question

measures of liberalisation

Answer 1

Liberalization of the economy means to free it from direct or physical controls imposed by the government. It refers to the removal or reduction of restrictions or barriers on the free exchange of goods between nations. It is the relaxation of existing or previous Government restrictions usually in areas of social, political or economic policy which results in greater participation of private entities.

Measure taken for Liberalization in India→
◊ Abolition of industrial listening and registration – Policy of liberalization is adopted over controlled economy. Until the New Economic Policy of 1991, private sector was functioning under rigid licensing system and other restrictions but now with the exception of 6, industrial licensing has been abolished for all other industries, the 6 being –

Liquor
Cigarette
Defence equipment
Drugs
Industrial explosives
Dangerous chemicals

Answer 2

Measures of Liberalization

Explanation:

Liberalization is the process of giving freedom to the private sector from the restrictions imposed by the government , so that they can work efficiently. following measures are used by government for liberalization:

• Abolish the compulsory licencing for various industries.
• Expansion of business and industries is made easy.
• Freedom on import of raw material and technology.
• Making banking sector business friendly.
• Exemptions in taxation policy.
• Freedom in Foreign Direct Investment.
• Investment limit in small industries is being increased.

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Liberalization measures

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