Question
Privatisation and Liberalisation
| Sr. No. | Privatisation | Liberalisation |
| (i) | Privatisation means reducing the involvement of the public sector and increasing the involvement of the private sector in the country’s economic activities. | Liberalisation means reducing or relaxing unnecessary restrictions over economic activities. |
| (ii) | The policy of reduction investment is adopted to privatise the public sector. | Automatic approval to the foreign technology, providing tax concessions and other incentives to the foreign investors, etc. |
| (iii) | The public sector enterprises are taken over by the private sector. It enables the country to improve the efficiency of these enterprises. | Liberalisation has given a boost to the industries in the private sector and given momentum to the industrial development of India. |
| (iv) | Their policies lead to an increase in unemployment. | It has encouraged the culture of consumerism. |
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