Liberalisation refers to the slackening of government regulations. The economic liberalisation in India denotes the continuing financial reforms which began since July 24, 1991.
liberalisation refers to a relaxation of government restrictions in order to encourage economic development.Liberalization policies include partial or full privatisation of government institutions and assets, greater labour market flexibility, lower tax rates for businesses, less restriction on both domestic and foreign capital, open markets, etc. The primary objective of this l was to make the economy of India the fastest developing economy in the globe with capabilities that help it match up with the biggest economies of the world.
Salient features of the Liberalisation
Foreign Technology Agreements
Foreign Investment
MRTP Act, 1969 (Amended)
Industrial Licensing
Deregulation
Beginning of privatisation
Opportunities for overseas trade
Steps to regulate inflation
Tax reforms
Abolition of License -Permit Raj
1. Liberalization means :
(1) Reducing number of reserved industries from 17 to 8
(2) Liberating the industry, trade and economy from unwanted restriction
(3) Opening up economy to the world by attaining international competitiveness
(4) Free determination of interest rate
2.Removing barriers or restrictions set by the government is called:
[1] liberalisation
[2] investment
[3] favourable trade
[4] free trade
Answer
1.[3] 2.[1]
liberalisation refers to a relaxation of government restrictions in order to encourage economic development.Liberalization policies include partial or full privatisation of government institutions and assets, greater labour market flexibility, lower tax rates for businesses, less restriction on both domestic and foreign capital, open markets, etc. The primary objective of this l was to make the economy of India the fastest developing economy in the globe with capabilities that help it match up with the biggest economies of the world.
Salient features of the Liberalisation
Foreign Technology Agreements
Foreign Investment
MRTP Act, 1969 (Amended)
Industrial Licensing
Deregulation
Beginning of privatisation
Opportunities for overseas trade
Steps to regulate inflation
Tax reforms
Abolition of License -Permit Raj
1. Liberalization means :
(1) Reducing number of reserved industries from 17 to 8
(2) Liberating the industry, trade and economy from unwanted restriction
(3) Opening up economy to the world by attaining international competitiveness
(4) Free determination of interest rate
2.Removing barriers or restrictions set by the government is called:
[1] liberalisation
[2] investment
[3] favourable trade
[4] free trade
Answer
1.[3] 2.[1]
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