Correct option is B
The correct option is: (b) Opening up the economy to foreign trade
Explanation:
Liberalisationrefers to the process of eliminating restrictions and barriers on trade and industry.
In India, the1991 Economic Reformsintroduced liberalisation by allowingforeign direct investment,removing licensing systems, andrelaxing import-export controls.
Information Booster:
Goal: To make the economy more competitive and integrated globally.
Major Reforms: Deregulation, reduction in import tariffs, encouragement of private sector.
Key Sector Openings: Telecom, banking, insurance, and manufacturing.
Additional Information:
Nationalisationis the opposite of liberalisation.
Reducing taxesorincreasing regulationsare separate fiscal or administrative measures, not directly liberalisation.
English
25 Questions
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