Normal 0 MicrosoftInternetExplorer4 This Policy deregulated the industrial economy in a substantial...........

Economic Affairs Planning in India

This Policy deregulated the industrial economy in a substantial manner. Its main features were abolition of industrial licensing, easier entry for foreign investment and technology, MRTP Act, diluted role of public sector, removal of mandatory convertibility clause, liberalization of industrial location policy and abolition of phased manufacturing programmes for new projects

Which policy is it?

Industrial Policy, 1948

Industrial Policy, 1980

New Industrial Policy, 1991

Industrial Policy, 1956

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Explanation:

3rd option is correct.

The New Industrial Policy,1991 seeks to liberate the industry from the shackles of licensing system Drastically reduce the role of public sector and encourage foreign participation in India’s industrial development.

The New Industrial Policy has made very significant changes in four main areas viz., industrial licensing role of public sector, foreign investment and technology and the MRTP act.