Financial Awareness - Risk, Stability & Emerging Finance
Which of the following statements about the Industrial Licensing Policy after 1991 reforms is TRUE?
Which of the following statements about the Industrial Licensing Policy after 1991 reforms is TRUE?
hard Q10 of 15
Step-by-Step Solution
Step 1: Understand Industrial Licensing changes post-1991
The reforms aimed to reduce licensing requirements to promote ease of doing business.Step 2: Analyze options
Licensing was abolished for most industries except strategic sectors like defense and atomic energy; it was not made mandatory or introduced for the first time in 1991.Step 3: Why other options are wrong
Mandatory licensing contradicts liberalization; complete removal including strategic sectors is incorrect; licensing existed before 1991.Final Answer:
Industrial licensing was abolished for most industries except a few strategic sectors → Option CQuick Check:
Industrial licensing post-1991 = Abolished except strategic sectors ✅
Quick Trick: Remember strategic sectors retained licensing post-1991.
Common Mistakes:
- Assuming licensing was completely removed or newly introduced in 1991.
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