Practicing Success
Practicing Success
CUET Preparation Today
Why was " Liberalisation " introduced in the year 1991, during the economic crisis? |
To increase the supply of output which had decreased due to slow economic growth To put end to the restrictions and open up various sectors of economy To increase the price of domestic goods which had decreased due to deflation None of the above |
To put end to the restrictions and open up various sectors of economy |
After independence, Indian government had put a lot of restrictions in production of goods and services. Limiting the company from producing and expanding its production hampered the process of growth and development of Indian economy to its full potential. Thus, making liberalisation reforms an essential part of New Economic Policy, which aimed at putting an end to these restrictions ( licensing ) and opening up of various sectors of economy. |
