Q10 Define Liberalisation as a process of economic reforms in 50 words
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(A) Liberalisation:
Liberalisation means to unshackle the economy from bureaucratic cobweb to make it more competitive. The features are :
(i) To do away with the necessity of having a license for most of the industries
(ii) Freedom in determining the scale of business activities
Liberalisation means to unshackle the economy from bureaucratic cobweb to make it more competitive. The features are :
(i) To do away with the necessity of having a license for most of the industries
(ii) Freedom in determining the scale of business activities
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