CA Foundation P4 · Chapter 10 · Question 10 of 15
Which of the following was a feature of the New Industrial Policy of 1991?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Abolition of industrial licensing for all but a short list of industries
Explanation
The 1991 Industrial Policy removed licensing requirements for most industries, reduced the number of industries reserved for the public sector, removed MRTP restrictions on asset size and liberalised foreign investment. The MRTP Act dates from 1969.
More Indian Economy MCQs
- Q12The 'drain theory', which argued that British rule transferred India's wealth to Britain, was propounded by:
- Q13Which of the following was a consequence of British colonial policy for the Indian economy?
- Q14The Goods and Services Tax (GST), a destination-based indirect tax, was introduced in India with effect from:
- Q15The Industrial Policy Resolution of 1956 is significant because it:
- Q1The economic reforms introduced in India in 1991 are popularly summarised as: