State the measures taken for Liberalisation.

1.	State the measures taken for Liberalisation.
Answer» Measures were taken for Liberalisation: Banks are free to determine the rate of interest. Earlier it was determined by RBI. The industries are free to expand and produce. The producers are now free to produce anything on the basis of demand in the market. Companies falling under MRTP Act are given a concession. Firms are free to make decisions regarding investment. FEMA (Foreign Exchange Management Act) was introduced in place of FERA. Domestic and foreign investment is allowed in infrastructure to improve its quality. SEBI was formed to secure the interest of the investors.

Answer»

Measures were taken for Liberalisation:

Banks are free to determine the rate of interest. Earlier it was determined by RBI.
The industries are free to expand and produce. The producers are now free to produce anything on the basis of demand in the market.
Companies falling under MRTP Act are given a concession. Firms are free to make decisions regarding investment.
FEMA (Foreign Exchange Management Act) was introduced in place of FERA.
Domestic and foreign investment is allowed in infrastructure to improve its quality.
SEBI was formed to secure the interest of the investors.

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