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Generations of Reforms

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One Mark Questions:-
Define 'Liberalization as a process of economic reforms' in one sentence.

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Liberalization is any process whereby a state lifts restrictions on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government regulations are relaxed.

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Q. One Mark Questions:-
Define 'Privatization' as a process of economic reforms.

Q. Define economic reforms.

Q. The new economic reform process was initiated in India in __________.

Q. As a result of Economic Reforms, Re-structuring, Mergers & Acquisitions of Companies, Business Process Re-engineering, processes have been ___________.

Q. All of the following developments were noticed during 1991 (when economic reforms were enforced) except one. Identify it.

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