What is liberalisation?

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Removing barriers set by the government is known as liberalisation

Removing barriers set by the countries is known as liberalisation

Removing barriers set by the foreign countries is known as liberalisation

None of these

answer is A.

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Detailed Solution

Removing barriers set by the government is known as liberalisation.
Removing barriers set by the government is known as liberalisation. For example, previously, the government had imposed a tax on imports since it felt domestic producers needed to progress to compete with foreign producers. So, the importance of essential items only was free of tax. After the reforms in 1991, the government decided to remove the barrier since the time had come for Indian producers to compete with producers around the globe. This need was felt because foreign competition would improve the performance of producers within the domestic boundary since they would have to improve their quality to compete.

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