. What is the main aim of liberalization in India
- 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.
Liberalization in India aims to promote private sector participation,
reduce restrictions, remove hurdles, and promote foreign investment in the economy.