Question

What enabled Indian industry to flourish post 1991 reforms?

• A. Abolition of industrial licensing.
• B. Dismantling of price controls.
• C. Dilution of reservation of small-scale industries.
• D. Virtual abolition of monopoly.

Answer 1

Answer: (A), (B), (C), (D)

The correct options are
A Abolition of industrial licensing.
B Dismantling of price controls.
C Dilution of reservation of small-scale industries.
D Virtual abolition of monopoly.

After 1991, India took a major decision to improve the performance of the industrial sector. The abolition of industrial licensing, dismantling of price controls, dilution of reservation of small-scale industries and the virtual abolition of monopoly law enabled the Indian industries to flourish.