Which of the following policy measures is a step towards liberalisation?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Eliminating licenses for importing a majority of goods.
Eliminating licenses for importing a majority of goods is a step towards liberalization. This policy measure reduces government control over imports, making it easier for businesses to bring goods into the country. By removing licensing requirements, trade barriers are lowered, promoting a more open and competitive market environment. This aligns with the broader goals of liberalization, which include reducing state intervention, encouraging foreign trade, and fostering economic growth by allowing greater freedom in the market.