1.

What is liberalisation? Describe any four effects of liberalisation on the Indian economy.

Answer»

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

Effects of liberalisation on the Indian economy : 

(a) Barriers to foreign trade and foreign investment were partially removed. 

(b) Goods could be imported and exported easily.

(c) Foreign companies could Set-up factories and offices here. 

(d) Indian producers got opportunities to compete with producers around the globe.



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