What is L.P.G in context of business environment ?

Explanation

in business environment L.P.G stands for
(i) L: Liberalisation The economic reforms that were introduced were aimed at liberalising the Indian business and industry from all unnecessary controls and restrictions. They signalled the end of the licence-pemit-quota raj. Liberalisation of the Indian industry has taken place with respect to:

(i) abolishing licensing requirement in most of the industries except a short list,


(ii) freedom in deciding the scale of business activities i.e., no restrictions on expansion or contraction of business activities,


(iii) removal of restrictions on the movement of goods and services,


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