Term Paper: Economic Liberalization

Economic LiberalizationName:Institutional affiliation:AbstractEconomic liberalization is an important strategy for economic growth. Most of developed countries in the world have benefited from economic liberalization. Other developing countries such as India have also proven that economic liberalization is critical in achieving economic growth. Economic liberalization in India has seen the country become one of the fastest growing economies in the world. Since the government implemented policies that promote economic liberalization, India has shown tremendous economic growth. Economic LiberalizationEconomic liberalization is the process in which a country lessens the government regulations and restrictions to allow greater economic participation of the private sector (Nayyar, 2017). Thus the economic liberalization enables the country to remove controls in the economy with the intent of encouraging economic development. Many countries especially the developed have exhibited tremendous growth due to the economic liberalization. This paper focuses on economic liberalization in India and the changes it has brought to the country’s economy as well as the advantages and disadvantages on India’s Economy.India is one