Question

what is the meaning of liberlization ? mention its benefits​

Answer 1

liberalization refers to the reduction or elimination of government regulations or restrictions on private business and trade.

liberalization in trade could lead to an increase in imports in the short run and this could cause both trade and current account deficits in countries that adopt rapid liberalization. Liberalization could increase growth rates in the short run and this also could result into higher imports than exports

Answer 2

Liberalisation means the elimination of control of the state or restrictions over economic activities.

Example: licenses, permits, quotas etc...

Benefits:

• Di-licencing of industries.
• Increase in foreign direct investment.
• liberalization of foreign technology.
• Industrial location.
• Faster growth and poverty reduction.
• Increase in employment.

Hope it helps you...!