What is the concept of liberalization? Liberalisation is the process or means of the elimination of control of the state over economic activities. It provides a greater autonomy to the business enterprises in decision-making and eliminates government interference. The economic liberalisation in India refers to the economic liberalization of the economic policies of the country with the goal of making the economy more market and service-oriented and expanding the role of private and foreign investment. In simple words, liberalisation refers to a relaxation of government restrictions in the areas of social, political and economic policies. In the context of economic policy, liberalization refers to lessening of government regulations and restrictions for greater participation by private entities. Economic liberalization encompasses the processes, including government policies, that promote free trade, deregulation, elimination of subsidies, price controls and rationing systems and often, the downsizing or privatization of public services.

Abhijith S

354 resources

0

0

0

Like