Question

When was Liberalisation and universalisation adopted in India ?
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Answer 1

Answer :

Liberalization and universalization were adopted in India in 1991.

Explanation :

Liberalization and universalization were adopted in India in 1991. This was a significant shift in India's economic policy, as the government had previously maintained a policy of protectionism and state control over key industries. The liberalization policies of the 1990s led to the deregulation of many sectors, such as telecommunications and banking, and the reduction of import tariffs and other trade barriers. This was done to open up the Indian economy to more foreign competition, attract foreign investment and improve the country's economic growth. This policy also led to the privatization of many state-owned enterprises and the encouragement of private sector investment in infrastructure development. Overall, the liberalization and universalization policies of the 1990s played a significant role in transforming India's economy and positioning it as a major player in the global economy.

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