GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What Kind of approach did the liberalization of industrial policy 1984-1985 envisage?
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Growth
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Welfare
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Income
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Employment
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Explanation:
Detailed explanation-1: -Specific changes included reducing import tariffs, deregulating markets, and reducing taxes, which led to an increase in foreign investment and high economic growth in the 1990s and 2000s.
Detailed explanation-2: -These barriers included tax laws, foreign investment restrictions, accounting regulations, and legal issues. Economic liberalisation reduced all these obstacles and waived a few restrictions over the control of the economy to the private sector.
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