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Home / Doubts and Solutions/ICSE/Class 9/Economics Applications

What are the liberal policies initiated by the government since 1991?

Asked by Topperlearning User 17th February 2016, 11:33 AM
Answered by Expert
Answer:

The liberal policies initiated by the government since 1991 are:

  1. The Indian government removed the barriers on foreign trade and investment. It enabled the foreign companies to set up their production units in India. Similarly, Indian companies established offices abroad.
  2. Special Economic Zones (SEZs) are being set up by the government to provide world class facilities such as education, electricity, water, transport, storage recreation etc. Production units in SEZs are initially exempted from taxes for a period of five years.
  3. Labour laws are more flexible and rules to protect the worker’s rights are ignored. Workers are hired for short periods to overcome the pressure of work.
Answered by Expert 17th February 2016, 1:33 PM
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