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Questions
What is meant by ‘liberalisation’?
Define liberalisation.
Definition
Short Answer
Very Short Answer
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Solution 1
Liberalisation refers to reduced government controls and restrictions, such as licences and quotas.
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Solution 2
Liberalisation means removing unwanted government controls and restrictions on trade and industry, allowing the private sector to enter sectors formerly reserved for the public sector and relaxing rules (tax, labour, foreign‑exchange, tariffs, and capital controls).
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Notes
Students should refer to the answer according to their question and preferred marks.
Impact of Government Policy Changes on Business with Special Reference to Liberalization, Privatization and Globalization in India
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