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Explian the economic policy of liberalisation.

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The economic policy of Liberalisation :
1. The state after independence put in place a large number of laws that ensured that the Indian market and Indian indigenous, business were protected from competition of the wider world.
2. Liberalisation of the economy meant the steady removal of the rules that regulated Indian trade and finance regulations.
3. Since 1991, the Indian economy witnessed a series of reforms in all major sectors of the economy agriculture, industry, trade, foreign, investment and technology, public sector, financial institutions etc. As greater integration into the global market would be beneficial to Indian economy.
4. The process of liberalisation also involved taking loans from International and Monetary Fund (IMF).

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