1.

Explain liberalisation​

Answer»

Liberalisation:-

  • Removing barriers or restrictions set by the government is what is known as liberalisation.

  • With liberalisation of trade, businesses are allowed to make decisions freely about what they WISH to IMPORT or export.

  • The government also imposes much less restrictions.

  • The government removes trade barriers.

  • The Indian government after independence, had PUT barriers on foreign trade and investment.

  • This was done to protect the small produces WITHIN the country from foreign competition.

  • Around 1991, the barriers was removed and Indian produces were allowed to compete with produces around the globe.

  • Some of the PRODUCERS suffered because of decision of the Government and some grew because of competition.


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