Liberalisation includes:
A. Privatization of the public sector enterprises.
B. Reduction on tariffs and import duties.
C. Allowing access to foreign companies to set up industries in India.
D. State regulating the market

Only A , B and C

The correct answer is Option 2: Only A, B and C.

Statement A: Privatization of the public sector enterprises. – Correct. Privatization is one of the key features of the liberalisation process.

Statement B: Reduction on tariffs and import duties. – Correct. Lowering tariffs and import duties encourages international trade and competition.

Statement C: Allowing access to foreign companies to set up industries in India. – Correct. Liberalisation permits greater foreign investment and participation in the Indian economy.

Statement D: State regulating the market. – Incorrect. Liberalisation is based on reducing government regulation and allowing market forces to play a greater role.

NCERT: The globalisation of the Indian economy has been due primarily to the policy of liberalisation that was started in the late 1980s. Liberalisation includes a range of policies such as the privatisation of public sector enterprises (selling government-owned companies to private companies); loosening of government regulations on capital, labour, and trade; a reduction in tariffs and import duties so that foreign goods can be imported more easily; and allowing easier access for foreign companies to set up industries in India. Another word for such changes is marketisation, or the use of markets or market-based processes (rather than government regulations or policies) to solve social, political, or economic problems. These include relaxation or removal of economic controls (deregulation), privatisation of industries, and removing government controls over wages and prices.