Which of the following is not a part of changes in Industrial sector post 1991 reform 1 Indust...........

Economic Affairs Planning in India

Download Solution PDF

Which of the following is not a part of changes in Industrial sector post 1991 reform?

1. Industrial licensing under which every entrepreneur had to get permission from government officials to start a firm.

2. Private sector was allowed in many industries.

3. Some goods could be produced only in small scale industries.

4. Controls on price fixation and distribution of selected industrial products.

Which of the above statements is/are correct?

1, 3 and 4 only

1, 2, 3 and 4

1 and 4 only

3 and 4 only

छोटे Courses बड़े Results

Master Planning in India

Prepare through Micro-courses

Try Now

Explanation:

1st, 3rd and 4th statements are incorrect regarding Industrial sector post 1991 reforms.
Industrial Policy of 1991
a) Industrial licensing system has been almost abolish. No license is required from the government.
b) Producers are free to decide their scale and level production.
c) Imports of almost all the goods are freely allowed without any restriction.
d) MRTP Act has been liberalized.
e) Doors have been left open for MNC’s. These are given automatic approval.
f) Whole of the economy has been left open to the private capital. Exclusive reservation for the public sector has been cut down to only areas of strategic importance.
g) Foreign exchange regulation has been almost totally dispensed with.