Measures undertaken for liberalization 1] Delicensing policy The industrial licensing policy was removed/abolished for all industries except six strategic industries ie hazardous chemicals, cigarette, alcohol, defence products, drugs and pharmaceuticals and industrial explosives. As a result the other industries were…
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Libralisation – III
Economic liberalisation in India Indian economic policy after independence was influenced by the colonial experience (which was seen by Indian leaders as exploitative in nature Policy tended towards protectionism, with a strong emphasis on import substitution, industrialization under state monitoring,…
Libralisation – II
Definitions of liberalization The term “liberalisation” means “economic freedom” or “freedom for economic decisions.” It follows that the consumers, producers and owners of factors of production all are free to take their decisions to promote their self interest. Even the…
Libralisation – I
Meaning of Economic liberalization Economic liberalization is a very broad term that usually refers to fewer government regulations and restrictions in the economy in exchange for greater participation of private entities. The arguments for economic liberalization include greater efficiency and…