The structural reforms of 1991, introduced liberalisation, privatisation and globalisation. According to you, which of the following statements is NOT a part of liberalisation policy of the government?

• Outsourcing is an important outcome of the liberalisation process undertaken by the government.
• Deregulation of the industrial sector increased efficiency in the economy.
• Role of RBI was reduced from regulator to facilitator of financial sector.
• Disinvestment helped in shedding of the ownership of government.

1 and 4

Disinvestment and Deregulation were part of the Liberalisation policy of the Government.

Outsourcing is one of the important outcomes of the globalisation process. In outsourcing, a company hires regular service from external sources, mostly from other countries. Whereas, privatisation included shedding of ownership of the government in the hands of private players.