Liberalization, the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters such as abortion and divorce, liberalization is most often used as an economic term. In particular, it refers to reductions in restrictions on international trade and capital.

What is liberalization answer?

Liberalization is any process whereby a state lifts restrictions on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government regulations are relaxed. 1) Economic liberalization has opened up the Indian economy to the foreign investors.

What is liberalization in simple words?

In simple words, liberalisation refers to a relaxation of government restrictions in the areas of social, political and economic policies. ... It is a process to removing controls systems in order to encourage economic development.