CSEET · Economic and Business Environment · Indian Economy
Which of the following is an example of liberalisation in the industrial sector after 1991?
Abolishing industrial licensing for most industries, apart from a short list of strategic or sensitive ones, is an example of post-1991 liberalisation. It removed entry barriers and government approval requirements, whereas nationalisation, quotas and public sector reservation increase state control.
- AAbolition of industrial licensing for most industries, except a short listCorrect
- BNationalisation of major private banks
- CImposition of higher import quotas on consumer goods
- DReservation of most industries for the public sector
Explanation
Liberalisation meant removing controls. Industrial licensing was abolished for most industries, keeping it only for a few such as those linked to security, strategic or environmental concerns. The other options increase state control, which is the opposite direction.
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