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What is known as liberalization? Explain it briefly.

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Class 10th Important Question

CBSE 2022-2023

NCERT Social Science

Class 10th Economics CH: 4

CH:4 Social Science, Economics

Important Question for Board class 10th SST CH:4

Important Very Short Answer

Important Question Class 10th SSt Globalisation and the Indian Economy

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  1. It felt that competition would improve the performance of producers within the country since they would have to improve their quality. This decision was supported by powerful international organisations. Thus, barriers on foreign trade and foreign investment were removed to a large extent. This meant that goods could be imported and exported easily and also foreign companies could set up factories and offices here. Removing barriers or restrictions set by the government is which is known as liberalisation.

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