In which industrial policy was the investment limit for tiny industry unit increased to Rs 2 lakh ........

General Studies (CGL) Indian Economy

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In which industrial policy was the investment limit for tiny industry/unit increased to Rs.2 lakh?

This questions was previously asked in

Combined Graduate Level Examination Tier I 2023

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1977

1991

1980

1956

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Explanation:

- Option 1: 1977

- In 1977, the Indian government introduced measures to promote small-scale industries but it did not specifically focus on increasing the investment limit for tiny industries to ?2 lakh.

- Option 2: 1991

- The 1991 industrial policy focused on liberalization and reducing state control to boost the economy. While it offered several benefits to industries, it did not specifically increase the investment limit for tiny industries to ?2 lakh.

- Option 3: 1980

- The 1980 industrial policy revised the definition of tiny industries, increasing the investment limit to ?2 lakh, supporting small enterprises' growth.

- Option 4: 1956

- The industrial policy resolution of 1956 laid the foundation for India's industrialization, emphasizing strategic and heavy industries, and did not focus on investment limits for tiny industries.