Question

Important feature of 1991 Industrial policy is __________.

• A. Industrial licensing
• B. Liberalisation in licensing
• C. Compulsory licensing
• D. Reducing the investment limit of small scale units

Answer 1

The correct option is B Liberalisation in licensing

Important feature of the 1991 Industrial policy is liberalization in licensing. New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more free and competitive economy. The main objective of any industrial policy is to augment the industrial production and thereby enhance industrial growth.
Hence, option (B) is the correct answer.