Question

As per New Industrial Policy (1991) automatic permission will be given for foreign technology agreements in high priority industries upto a payment of _____.

• A. Rs. 50,000
• B. Rs. 1,00,000
• C. Rs. 50,00,000
• D. Rs. 1,00,00,000

Answer 1

Answer: (D)

Rs. 1,00,00,000

As per New Industrial Policy (1991) automatic permission will be given for foreign technology agreements in high priority industries upto a payment of Rs 1,00,00,000. New Industrial Policy was adopted by the Government of India in the year of 1991.

It was adopted in order to create a more freer and competitive economy. The main objective of any industrial policy is to augment the industrial production and thereby enhance the industrial growth.