1.

Discuss the features of Liberalizatio.

Answer»

Liberalization : These economic reforms signaled the end of the License / Permit Quota Raj and were aimed at liberalizing the Indian business and industry from all unnecessary channels and restrictions . Key features of the Government towards Liberalization are : 

  • Abolishing licensing requirement in most of the industries , except a short list . 
  • Freedom in deciding the scale of business activities . 
  • Removal of restrictions on the movement of goods and services . 
  • Freedom in fixing the prices of goods and services . 
  • Reduction in tax rates and lifting of unnecessary controls over the economy . 
  • Simplifying procedures for imports and exports . 
  • Making it easier to attract foreign capital and technology in India .


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