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.
- It helped in shedding of the ownership of government.
Answer & explanation
Correct answer: option 4
The correct answer is Option 4: 1 and 4
Explanation:
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Outsourcing: While outsourcing can be an outcome of liberalisation, it is more closely related to globalisation rather than liberalisation itself.
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Disinvestment: Disinvestment, which involves selling off government-owned enterprises, is more closely associated with privatisation rather than liberalisation.