Q.State any three key measures of liberalization introduced in India after 1991.

This question expects three distinct, correctly named measures rather than a general description of liberalization as a whole.

Several distinct measures made up India's liberalization reforms after 1991. First, INDUSTRIAL DELICENSING abolished the requirement for most industries to obtain a government licence before being set up or expanded, retained only for a small list of items on genuine public-interest grounds. Second, RESTRICTIONS ON PRIVATE INVESTMENT were eased, giving private firms much greater freedom to enter new lines of business and expand existing ones. Third, rules for FOREIGN INVESTMENT were relaxed, with higher sectoral caps on foreign equity holding and faster approval procedures. A fourth valid measure is TAX REFORMS — simplification and rationalisation of the tax structure and reduction of import duties over time. A fifth valid measure i …

Students sometimes name only one measure (usually 'industrial delicensing') and repeat it in different words instead of naming three genuinely distinct measures — mak …