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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
- Political Science
The positive impact of Liberalisation are :
(a) Foreign investment (b) Increased production
(c) Increased unemployment (d) Technological advancement
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Eduncle Best Answer
Liberalization means elimination of state control over economic activities. It implies greater autonomy to the business enterprises in decision-making and removal of government interference. It was believed that the market forces of demand and supply would automatically operate to bring about greater efficiency and the economy would recover. This was to be done internally by introducing reforms in the real and financial sectors of the economy and externally by relaxing state control on foreign investments and trade.