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Question

______ refers to the process of eliminating unnecessary controls and restrictions on the smooth functioning of business enterprises.

A
Globalization
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B
Privatization
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C
Liberalization
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D
All of above
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Solution

The correct option is C Liberalization

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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