What is liberalisation? State any two effects of liberalisation of indian economy.
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Explanation:
Liberalization is any process whereby a state lifts restrictions on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government regulations are relaxed. Economic liberalization is the reduction of state involvement in the economy.
Effects of liberalisation:
>Tough competition faced by the producers.
>Job insecurity.
>Increase in the foreign trade.
>Increase in foreign investment.
>Exchange of technology between countries.
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