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Liberalization and globalization are both part of the economic reform undertaken by numerous countries including India in the recent past to give a new shape to their economies. Liberalization is the diminution of progressive elimination of the control of the state over economic policies. Purely internal liberalization confines its attention to the domestic and takes measures to make it more responsive to market forces. External liberalization, on the other hand, ...
The state and pace of India’s development show many troubling signs. In the 1990s, there was a dream, which seems to be tantalizingly within reach –the dream of becoming a fast growing economy, so that poverty could be wiped out. However, this dreams remains elusive. The excitement and optimism generated by the economic reforms have abated. The ability of policy make45rs to obtain radical changes greatly diminished and the progress of reforms have been ...