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In this chapter we saw the following:
  • The background which lead to the ushering in of new economic reforms
  • The policies which advocated liberalization and privatization
  • The opening up of trade to foreign nations and the lifting of barriers to import
  • The abolition of licenses and the decrease in the role of the government
  • Privatization of the public sector and the freedom given to banks and PSUs to take their own managerial decisions
  • ​Globalization and its impact

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