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​Which of the following methods can be used for liberalisation?​
Question

​Which of the following methods can be used for liberalisation?​

A.

​Increase in taxes​

B.

​Abolishing licensing requirement in most industries​

C.

​Making procedures for imports and exports tough​

D.

Restrictions in fixing the prices of goods and services

Correct option is B

The correct answer is (B) ​Abolishing licensing requirement in most industries​.

  • Abolishing licensing requirements in most industries is a method that can be used for liberalization: 

Explanation: 

  • Liberalization is the process of removing government restrictions and controls on businesses.
  •  Abolishing licensing requirements is one way to achieve this.
  •  For example, in India, most industries are now exempt from needing a license, and instead only need to file an Industrial Entrepreneur Memorandum.

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