Liberalisation means __________.

Reducing number of reserved industries from 17 to 8

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Liberating the industry, trade and economy from unwanted restriction

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Opening up economy to the world by attaining international competitiveness

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Free determination of interest rate

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Solution

The correct option is B Liberating the industry, trade and economy from unwanted restriction
Liberalization refers to end of licence, quota and many more restrictions and control that were put on many industries. The term basically refers to opening of the economy to the world and providing freedom to the departmental and public sector undertakings to access capital market in order to achieve international competitiveness.

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