Question

Which of the following is NOT included in liberalization?

• A. Reducing in tax matters
• B. Abolition of licensing
• C. Simplification of policies
• D. Imposition of tariff barriers

Answer 1

The correct option is D Imposition of tariff barriers

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. It includes removal of tariff barriers for better flow of goods and services between the countries.