Question

what is liberalisation? describe any 4 effects of liberalisation on Indian economy.​

Answer 1

Answer:

Explanation:

Removing barriers or restrictions  set by the government is what is

known as liberalisation

effects of liberalisation on Indian economy are:

1.leads to increase in foregn trade

2.Exchange of technology between countries

3.Better means of communication have developed

4.Increase in foreign investment

5.Goods could be imported and exported easily

Answer 2

$\huge{\boxed{\mathcal{\red{\underline{LIBERALISATION}}}}}$

✿ Liberalisation means the opening of the country for foreign investment and capitals.

✿ Liberalisation also defined as removing or lessening of restriction on something typically an economic or political system is called liberalization.

✿ The trade barriers often used by countries to protect the domestic industries from the products of foreign land.

✿ Usually countries resort to impose Licenses, Import quotes or Voluntary export restraints to protect local markets.

$\huge{\boxed{\mathcal{\red{\underline{EFFECTS\;OF\;LIBERALISATION}}}}}$

✿ Produces: Tough competition faced by producers in the native of country by the producers of foreign markets.

✿ Workers: Job insecurity, denial of fair share in the benefits brought about by globalization.

✿ Increase in the foreign trade.

✿ Increase in foreign investment.

✿ Exchange of technology between two countries.

✿ Better means of communication have developed alongside globalization.

✿ Better job opportunities for people gave rise to migration.