What means giving more freedom to the industry
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The relaxation of government restrictions in areas of social of economic policy is known as liberalization. It refers to the process of eliminating unnecessary controls and restrictions on the smooth functioning of business enterprise.Liberalization includes:a) abolishing industrial licensing requirement in most of the industries
b) freedom in deciding the scale of business activities
c) freedom in fixing prices of goods and services
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Liberalization means giving more freedom to the industries
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