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Question : Government of India is seriously thinking to empower all of its oil marketing public sector undertaking to fix their own price for petrol and diesel?
Name the economic reforms related to this decision of government?

Option 1: Liberalisation 

Option 2: Privatisation 

Option 3: Globalisation 

Option 4: None of the above


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Team Careers360 6th Jan, 2024
Answer (1)
Team Careers360 10th Jan, 2024

Correct Answer: Liberalisation


Solution : Liberalisation means removal of restriction, licencing, etc. and simplifying prodcedures. Reduction in tariff, tax structure and giving more freedom. In the above case, Government of India is seriously thinking to all oil marketing public sector undertaking to fix their own price for petrol and diesel. This highlight the aspect of liberalisation.
Hence, option 1 is the correct answer.

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