Select a statement which can be attributed as a feature of economic liberlaization.

Liberalisation encouraged private companies especially foreign companies to invest in sectors which were previously reserved for the public sector. Liberalisation created Indian traditional arts with a better factory background. Liberalization revolutionalised Indian social structure by bringing egalitarian ideals. The market became a weak social institution after the liberalization.

Liberalisation encouraged private companies especially foreign companies to invest in sectors which were previously reserved for the public sector.

Since the 1990s, however, the government has followed a policy of liberalisation. Private companies, especially foreign firms, are encouraged to invest in sectors earlier reserved for the government, including telecom, civil aviation, power etc. Licenses are no longer required to open industries