BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Liberalisation in economics means minimising the government’s restrictions and regulations in an economy, in return for higher involvement of private organisations. In short, liberalisation means the removal of restrictions in order to promote economic development.

Detailed explanation-2: -liberalization, the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters such as abortion and divorce, liberalization is most often used as an economic term. In particular, it refers to reductions in restrictions on international trade and capital.

Detailed explanation-3: -Increased employment opportunities. Increased international competitiveness of industrial production. Reduced rates of interest and tariffs. Decreased the debt burden of the country.

Detailed explanation-4: -Economic Liberalisation in India The Indian economy was liberalized in the year 1991. In India, the concept of economic liberalization was introduced to attain several objectives – industrialization, expansion in the role of private and foreign investment, and introducing a free market system.

Detailed explanation-5: -Globalization is closely related to the scale of economic activities across nations. Liberalization is mainly concentrated on economic activities as a result of modernization and development.