One of the components of New Economic Policy has led to removal of restrictions on the movement of goods and services?

Liberalization

The economic reforms that were introduced were aimed at liberalising the Indian business and industry from all unnecessary controls and restrictions. They signalled the end of the licence-pemit-quota raj. Liberalisation of the Indian industry has taken place with respect to removal of restrictions on the movement of goods and services, freedom in fixing the prices of goods services etc.