Question

Which of the following statement is correct about the New Industrial Policy, $1991$?

• A. It made it compulsory for the industry to obtain license for all projects.
• B. It abolished licensing for all industries, except $18$ industries of strategic and security importance.
• C. It gave dominant position to the public sector.
• D. None of the above.

Answer 1

Answer: (B)

It abolished licensing for all industries, except $18$ industries of strategic and security importance.

New Indistrial Policy of $1991$ abolished licensing for all industrial projects, except $18$ industries of strategic and security importance and now it has been reduced to only $6$ industries.