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Question

51. Which of the following sectors is/are reserved only for public sector?

i) Atomic Energy

ii) Mass Rapid Transport System

iii) Coal and lignite

iv) Defence aircraft and warships


A

a) i only

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B

b) i and iv only

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C

c) iii and iv only

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D
d) i, iii and iv only
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Solution

The correct option is A

a) i only


51 Ans A

Explanation: Only 2 industrial sectors are reserved solely for public sector .

• Atomic Energy

• Railway operations


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Q. The government initiated a variety of policies in new economic policy which fall under three headings:
(i) Liberalisation
(ii) Privatisation
(iii) Globalisation

Liberalisation means removing all unnecessary controls and restrictions like permits, licences, quotas, etc. imposed by the government. Liberalisation concept were introduced for the following reasons:
(i) To unlock the economic potential of the country by encouraging the private sector and multinational corporations to invest and expand.
(ii) To encourage the private sector to take an active part in the development process.
(iii) To reduce the role of the public sector in the future industrial development.
(iv) To introduce more competition into the economy with the aim of increasing efficiency.

The economic reforms under liberalisation taken by the government include the following:
(i) Industrial Sector Reforms
(ii) Financial Sector Reforms
(iii) Tax Reforms
(iv) Foreign Exchange Reforms
(v) Trade and Investment Policy Reforms

Industrial Sector Reforms
The new policy abolished the requirement of obtaining a licence for all industries except alcohol, cigarettes, hazardous chemicals, industrial explosives, electronics, aerospace, and drugs and pharmaceuticals. Licence is no longer required to set up new units or to expand the existing one.

Under the new industrial policy, the number of industries reserved only for the public sector was reduced from 17 to only 3.
It is only (i) Defense equipment (ii) Atomic energy generation (iii) Railway transport.Read the following statements carefully and choose the correct answer from the following:
Statement 1 - Under the new industrial policy the number of industries reserved only for public sector was (i) Defense equipment, (ii) Atomic energy generation (iii) Railway transport.
Statement 2 - In industrial sector reform, freedom from licencing implied freedom from capacity constraints.

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