Question

The New Industrial Policy announced on July 24, 1991 contained provisions relating to _________.

• A. industrial licensing
• B. foreign investment
• C. foreign technology policy
• D. all of the above

Answer 1

Answer: (D)

all of the above

On July 24, 1991, Government of India announced its new industrial policy with an aim to correct the distortion and weakness of the Industrial Structure of the country that had developed in 4 decades; raise industrial efficiency to the international level; and accelerate industrial growth. The NIP does away with licensing for all major industries, irrespective of the investment level, proposes liberal foreign investment, dispenses with the Monopolies and Restrictive Trade Practices (MRTP) clearances but curbs unfair trade practices and emphasis technological up-gradation.

Hence, D is the correct option.