What are the major aspects of liberalization in India?
Understand the Problem
The question is asking about the significant features or components of liberalization in India, which likely involves economic policies and reforms initiated in the early 1990s to open up the Indian economy.
Answer
deregulation of industries, financial sector reforms, tax reforms, trade liberalisation, and foreign exchange reforms
The major aspects of liberalization in India include the deregulation of industries, financial sector reforms, tax reforms, trade liberalisation, and foreign exchange reforms.
Answer for screen readers
The major aspects of liberalization in India include the deregulation of industries, financial sector reforms, tax reforms, trade liberalisation, and foreign exchange reforms.
More Information
These reforms aimed to make the Indian economy more competitive and market-driven.
Tips
Common mistakes include confusing liberalization with complete privatization or assuming all industries were deregulated equally.
Sources
- The web page with info on - Example Source - ispp.org.in
- Economic liberalisation in India - Wikipedia - en.wikipedia.org
- Meaning, impact, objective, reforms under Liberalisation - BYJU'S - byjus.com
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