the year 1991 is famous for
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India instituted a series of ongoing economic reforms, which is now known as the Economic Liberalization, hence the word "liberalization" .
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On July 24, 1991, India launched a chapter of ongoing economic reforms, which is now known as the Economic Liberalization of 1991.
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Economic liberalization is the practice in which government applying a series of liberalism measures thus bringing down the amount of government control, allowing foreign capital in, allowing greater denationalization, lowering down of taxes (and other economic barriers), etc to allow space for private players to enter its market.
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