Liberalisation means:

None of them.

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Policy of planned disinvestments

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Reduced government controls and restrictions

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Integration among economies

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Solution

The correct option is C
Reduced government controls and restrictions

Liberalisation means: Reduced government controls and restrictions

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Liberalisation means

(a) Integration among the economies

(b) Reduced government controls and restrictions

(d) None of them

Q. Under which of the following policies does the government reduce restrictions and loosen control over the private sector?

Q. The government initiated a variety of policies in new economic policy which fall under three headings:
(i) Liberalisation
(ii) Privatisation
(iii) Globalisation

Liberalisation means removing all unnecessary controls and restrictions like permits, licences, quotas, etc. imposed by the government. Liberalisation concept were introduced for the following reasons:
(i) To unlock the economic potential of the country by encouraging the private sector and multinational corporations to invest and expand.
(ii) To encourage the private sector to take an active part in the development process.
(iii) To reduce the role of the public sector in the future industrial development.
(iv) To introduce more competition into the economy with the aim of increasing efficiency.

The economic reforms under liberalisation taken by the government include the following:
(i) Industrial Sector Reforms
(ii) Financial Sector Reforms
(iii) Tax Reforms
(iv) Foreign Exchange Reforms
(v) Trade and Investment Policy Reforms

Industrial Sector Reforms
The new policy abolished the requirement of obtaining a licence for all industries except alcohol, cigarettes, hazardous chemicals, industrial explosives, electronics, aerospace, and drugs and pharmaceuticals. Licence is no longer required to set up new units or to expand the existing one.

Under the new industrial policy, the number of industries reserved only for the public sector was reduced from 17 to only 3.
It is only (i) Defense equipment (ii) Atomic energy generation (iii) Railway transport.
Q - _________ means to free the economy from the direct and physical control imposed by the government.

[0.80 marks]

Q. The Indian government has been following the policy of liberalisation, globalisation and privatisation since

Recently, many companies have planned for major investment in retail business. Increasing incomes, rise in living standards, government policy of liberalisation and its favourable attitude towards modernisation has favoured their decision.

Identify the various dimensions of business environment and explain their effect on business.

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Liberalisation means:

The correct option is C Reduced government controls and restrictions Liberalisation means: Reduced government controls and restrictions

The correct option is C
Reduced government controls and restrictions

Liberalisation means: Reduced government controls and restrictions