What is LPG (Liberalization, Privatization and Globalization)?

Question

What is LPG (Liberalization, Privatization and Globalization)?

Answer 1

c'mon liquified petroleum gas hehehaha

was jus jokin

ok liberalization is to

privatization is to make the enterprises private like most of them are public and tht is runned by the govt.

so basically people now prefer privatization

globalisation is  mainly concerned with the importin and exportin of goods

so if it is globalised it is more easy to do the the import and export

so india is tryin to follow this LPG coz its better i guess

Answer 2

Liberalization is loosening the control of government. In the world of business, it means that it is easier to get a building permit to build a house or factory.

Privatization means that the government tries to do less in the world of business and allows citizens to own their own factories and businesses.  A country that owns the oil wells and gas stations would decide to "get out of the oil business" and allow it to be run by private citizens.  The government still collects money from taxes but no longer has to run the business.

Globalization means that you cross borders.  If you want to build a new car to sell in America, you might buy the steel from India;  set up the factory in Mexico;  open dealerships to sell the cars in America.