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Dolly PPT Lib

Liberalisation aims to reduce unnecessary restrictions imposed by the government on businesses to simplify procedures and relax controls on trade and industry. The Indian government took several steps to liberalize the economy including exempting most industries from licensing requirements, giving industries freedom to expand production and import technology, raising investment limits for small industries, allowing foreign direct investment, and reducing export-import taxes. The economic reforms were based on letting market forces guide the economy more effectively than government control.

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105 views2 pages

Dolly PPT Lib

Liberalisation aims to reduce unnecessary restrictions imposed by the government on businesses to simplify procedures and relax controls on trade and industry. The Indian government took several steps to liberalize the economy including exempting most industries from licensing requirements, giving industries freedom to expand production and import technology, raising investment limits for small industries, allowing foreign direct investment, and reducing export-import taxes. The economic reforms were based on letting market forces guide the economy more effectively than government control.

Uploaded by

dollygupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

LIBERALISATION

Liberalisation means to reduce unnecessary restrictions


and control on business units imposed by government.
 It means procedural simplification, relaxing trade and
industry from unnecessary bureaucratic hurdles.

Economic reforms were based on the assumption


that market forces could guide the economy in a
more effective manner than government control.
STEPS TAKEN FOR LIBERALISATION
• Liberalisation of industrial licensing - All industries except alcohol,
hazardous chemicals, cigarettes, drugs, electronic aerospace and
explosives are exempted from industrial licensing.
• Freedom for expansion and production to industries - Producers can
produce goods of their choice.
• Freedom to import technology - foreign technological collaboration
has been allowed.
• Liberalisation in the investment limit of small scale industries -The
investment limit has been raised to one crore. So they can modernize
their industries
• Inviting direct foreign investment - Indian firms can invite foreign
investors to invest in their industries to expand and enlarge their
business.
• Reduction in Export-Import Tax: Export-import tax on some items has
been completely abolished and on some other items it has been
reduced to the minimum level.

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