Liberalisation was introduced to put an end to restrictions and open up various sectors of the econo...........

Liberalisation was introduced to put an end to restrictions and open up various sectors of the economy. Which of the following liberalisation measures were taken up before 1990s?

1. Industrial licensing

2. Export-import policy

3. Tax reforms

4. Foreign investment

5. Technology upgradation,

Code:

1 and 3 only

2 and 5 only

1, 2 and 5 only

All of the above

Explanation:

Though a few liberalisation measures were introduced in 1980s in areas of industrial licensing, export-import policy, technology upgradation, fiscal policy and foreign investment, reform policies initiated in 1991 were more comprehensive. Let us study some important areas such as the industrial sector, financial sector, tax reforms, foreign exchange markets and trade and investment sectors which received greater attention in and after 1991.