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Some of the laws framed in order to promote economic growth were actually a barrier to the growth. Liberalisation was brought in order to ensure that economic growth was promoted and all the hindrances to growth were removed. There were a few policies or liberalization measures in the fields of industrial licensing, import export policy, technology upgradation, fiscal policy etc in the 1980s but the policies introduced n 1991 were much more exhaustive and comprehensive. We will now proceed to have a look at the reforms bought in the sectors like industry, foreign exchange, finance, tax, trade and investment.

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