Question

What is liberalization? What steps were taken by the government to liberate the Indian economy?​

Answer 1

Answer:

Removing barriers or restrictions set by the government is known as liberalisation: (i) The Indian government, after Independence, had put barriers to foreign trade and foreign investment. ... (iii) Barriers on foreign trade and foreign investment were removed to a large extent.

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Answer 2

Answer:

Removing barriers or restrictions set by the government is known as liberalisation: (i) The Indian government, after Independence, had put barriers to foreign trade and foreign investment. ... (iii) Barriers on foreign trade and foreign investment were removed to a large extent.