Question

The liberalization economic policy of the government lifted many rest dictionary on

Answer 1

(i) industrial licensing under which every entrepreneur had to get permission from government ocials to start a rm, close a rm or to decide the amount of goods that could be produced (ii) private sector was not allowed in many industries (iii) some goods could be produced only in small scale industries and (iv) controls on price xation and distribution of selected industrial products. The reform policies introduced in and after 1991 removed many of these restrictions