ECONOMIC LIBERALIZATION AND GLOBALIZATION. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social ScienceECONOMIC LIBERALIZATION AND GLOBALIZATION.2 Marks
Question
What are the disadvantages of Liberalization$?$
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Answer
The government introduced a New Economic Policy in $1991$ and under its Liberalisation feature the government gradually reduced the restrictions and controls imposed on the private sector and encouraged economic development. However there were some limitations:
Monopoly could not be checked.
Agricultural sector didn’t develop.
There was increase in disparity of income.
The country's foreign debt increased due to increase in imports and decrease in exports.
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