Meaning of liberalisation
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Facets of Liberalisation
Liberation in Europe carried on by reducing the public expenditure, social security, welfare programmes, taxation etc. It did not affect the highly agricultural production. In 1970’s liberalisation at its early phase in developing countries maintained stabilisation of the economy–public expenditure was control, increase in tax return, currency devaluation, reforms in industrial policy, state expenditure was controlled, reforms in market financial etc