CSEET · Economic and Business Environment · Indian Economy
Which of the following was a feature of industrial policy liberalisation after 1991?
After 1991 industrial licensing was abolished for most industries, retained only for a small list on grounds such as security, strategic concerns and environmental sensitivity. This ended the licence-permit raj in which most units needed government approval to start or expand.
- AAbolition of industrial licensing for most industries except a short listCorrect
- BCompulsory licensing for every new industrial unit
- CReservation of all industries for the public sector
- DMandatory government approval for every expansion by large firms
Explanation
The 1991 industrial policy removed licensing for most industries, retaining it only for a few strategic or environment-sensitive ones. The other options describe the pre-1991 licence-permit regime that was dismantled.
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