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  #1  
22nd March 2016, 10:57 AM
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Globalisation And Liberalisation

Hello sir, I am Rajesh Mondal. I am from Patna. I want you to help me by giving me some information about the Globalisation and Liberalization in India. Can you give me some information about it?
  #2  
22nd March 2016, 10:57 AM
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Join Date: May 2012
Re: Globalisation And Liberalisation

As you have asked about the Globalisation and Liberalization in India, I am giving you information about it
Globalization and liberation are directly linked with each other.

Liberalisation refers to the slackening of government regulations. The economic liberalisation in India denotes the continuing financial reforms which began since July 24, 1991.

Globalisation refers to the participation of private entities in businesses and services and transfer of ownership from the public sector (or government) to the private sector as well. Globalisation stands for the consolidation of the various economies of the world.

The main aim of liberalisation was to dismantle the excessive regulatory framework which acted as a shackle on freedom of enterprise.

Globalisation intends to integrate the Indian economy with the world economy. Globalisation is considered to be an important element in the reforms package. It has four parameters:
(i) Reduction of trade Anomalies so as to permit free flow of goods and services across national frontier
(ii) To Create, to ion of an environment in which free flow of capital can take place; % in
(iii) Creation of an environment permitting free flow of technology among nation-states; and
(iv) Creation of an environment in which free movement of labour can take place in different -countries

It was in the 1990s that the first initiation towards globalization and economic liberalization was undertaken

Globalization and liberalization has greatly influenced the Indian economy and made it a huge consumer market.
Today, most of the economic changes in the country are based on the demand supply cycle and other economic factors. Today,
India is the world’s 12th largest economy in terms of market exchange rate and 4th largest in terms of the Purchasing Power Parity.


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