Q.What is meant by Liberalisation?

Liberalisation is about removing government-imposed barriers to private economic activity, not about any single specific measure.

Define it, then give one concrete example measure.

Liberalisation refers to the process of freeing the domestic economy from excessive government rules, regulations, and controls, so that market forces rather than bureaucratic permission govern most economic decisions. In India, this meant, among other measures, abolishing industrial licensing for almost all industries (retaining it only for a short strategic list), removing the MRTP Act's asset-based restriction on large-firm expansion, and reforming the financial sector (private banks, market-linked interest rates, an empowered SEBI).