. What is the main aim of liberalization in India


Best Answer

Explanation:

  • Liberalization means the government allows the private sector to invest in the economy.
  • India adopted the liberalization policy in 1991.
  • The primary aim was to remove the unnecessary restrictions in the economy,

which created hurdles in the growth and development of the economy.

  • The other aims of liberalization can be listed below:
  • To end red-tapism, which causes corruption in the economy.
  • To increase private sector participation to help hasten the economic growth.
  • To reduce government liabilities in every sector of the economy. 
  • To open the economy for foreign investments.

Final Answer:

Liberalization in India aims to promote private sector participation,

reduce restrictions, remove hurdles, and promote foreign investment in the economy.

 

 

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