what is liberalisation? describe any 4 positive effects of liberalisation on indian economy
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Liberalization (or liberalisation) is any process whereby a state lifts restrictions on some private individual activities.
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ECONOMIC LIBERALIZATION :
Government gradually reduced the restrictions and controls imposed on private sector and encouraged economic development. This is known as economic liberalization.
POSITIVE EFFECTS:
1) Due to liberalization, private sector got an opportunity to grow and develop to great extent, which led to increase in production.
2) Global trade boosted.
3) with the increase in global trade, there has been increase of FOREIGN exchange.
4) Internal infrastructure increased due to liberalization.
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Government gradually reduced the restrictions and controls imposed on private sector and encouraged economic development. This is known as economic liberalization.
POSITIVE EFFECTS:
1) Due to liberalization, private sector got an opportunity to grow and develop to great extent, which led to increase in production.
2) Global trade boosted.
3) with the increase in global trade, there has been increase of FOREIGN exchange.
4) Internal infrastructure increased due to liberalization.
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