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Explain the following term/concept.Liberalization. - Organisation of Commerce and Management

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Short Note

Explain the following term/concept.
Liberalization.

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Solution

(I) Liberalization refers to the process of eliminating unnecessary controls and restrictions for smooth functioning of business.
(II) Liberalization helps 1n achieving a high growth rate, easy availability of goods at competitive rates, high foreign exchange reserve, strong rupee and good industrial relation, etc.

Concept: New Economic Policy and Business
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