Consider following statements 1 private sector was still kept under the control of state throu...........

Economic Affairs NCERT

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. Consider following statements

1) private sector was still kept under the control of state through licenses

2) no new industry was allowed unless approved by the government

3) even the existing industry has to obtain license to expand the output or for diversifying production

select the corrct code

1 and 2

2 and 3

1 and 3

all of the above

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Explanation:

this was done to promote industry in backward areas because it was easy to obtain the license if the industrial unit was set up in economically backward area and to promote regional equity. license to expand production was given only if the government was convinced the economy require larger quantity of goods