Economic Liberalisation in India

Abstract

The word liberalisation is mainly used to denote that the Government is moving from licensing of commerce to de-licencing. Even though normally associated with Government ownership of Government in business entities, the real direction of liberalisation is moving away from planned economy to market economy. Economic liberalisation is often associated with privatisation. The two are distinct concepts. This paper tries to examine the concept and process of economic liberalisation in India during the post-Independence era. It also analyses the impact and chanllenges of economic liberalisation in terms of key macroeconomic indicators such as GDP, Investment, Employment, Inflation etc.

Keywords: Demonetisation, Economy, India, Inflation, Investment, Liberalisation, Reforms