Write a note on liberalization and Indian economy ?
Answers
Explanation:
The economic liberalisation in India refers to the economic liberalization of the country's economic policies with the goal of making the economy more market and service-oriented and expanding the role of private and foreign investment. India's economy includes agriculture, handicrafts, industries, and a lot of services. ... For most of India's independent history, it had strict government controls in many areas such as telecommunications (communication over long distances), banking and foreign direct investment.
Eliminating the industrial license requirement for most sectors.
India's economic liberalization refers to the liberalization of the state's financial policies with the objective of creating the business more market and service-oriented, as well as increasing the role of private and international investment. Liberalization (or financial liberalization) is the process of reducing government controls and limits in an economy in return for more private sector engagement. The doctrine is linked to both libertarianism and neoliberalism in politics.