Effects of Liberalization:

• By removing barrier to foreign direct investment in Indian Industries, maximum limit for foreign investors and businessmen has been gradually increased.
• In the field of share market, the procedure of purchase * and sale of shares have been made completely transparent by taking various steps.
• The Government started taking steps ^to make tax structure more simple and transparent.
• Indian currency has been given new symbol of •?’.
• ‘License Raj’ has almost been removed from India.
• Collective efforts are being made to increase the Exports of India.
• The changes were incorporated in Foreign Exchange Statute.
• Various changes have been made in Monopolies and Restrictive Trade Practices Act (MRTP Act) introducing number of relaxations in the Act.
• Reserve Bank of India has given freedom to various banks to decide the deposit and lending rate of interest, subject to certain conditions.
• The imports of goods and services have become easier and payment of foreign exchange has become simple.