Which one among the following is a far reaching change in the policy made in India in 1991?
(a) Removing barriers or restrictions set by the government which is known as liberalization.
(6) Putting barriers to foreign trade and foreign investments.
(c) Restrictions set by the government to protect the producers within the country from foreign competition. (d) Giving protection to domestic producers through a variety of means.
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1:Economic liberalization refers to those government policies which promote economic growth by opening up trade to international markets, extending the use of markets and lessening the restrictions and regulations placed on business.
2:Economic liberalization does not always come without its drawbacks. Domestic companies may face difficulties in competing with foreign companies once the international trade barriers are removed.
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