Question : In India, which of the following regulatory mechanisms was not in existence to enforce regulation of the industrial sector?
Option 1: Industrial licensing under which every entrepreneur had to get permission from government officials to start a firm, close a firm or decide the amount of goods that could be produced.
Option 2: Controls on price fixation and distribution of selected industrial products.
Option 3: Private sector was allowed in all industries.
Option 4: Some goods could be produced only in small-scale industries.
Correct Answer: Private sector was allowed in all industries.
Solution : The correct answer is the Private sector was allowed in all industries.
All of the options are part of the regulatory mechanisms that are in existence to enforce regulation of the industrial sector, except the "private sector was allowed in all industries". The main regulatory mechanisms in existence to enforce regulation of the industrial sector are the industrial licencing norms and controls on price fixation and distribution of selected industrial products.
College Comparison based on Courses, Placement, Rank, Fee
Application | Eligibility | Selection Process | Result | Cutoff | Admit Card | Preparation Tips
Question : Effect of The Industrial Policy, 1956 on industries was _____.
Option 1: industries started to get diversified
Option 2: India become self-sufficient in industrial goods
Option 3: imports of those goods which could be produced in India itself was avoided
Option 4: industries share fell in the GDP during 1991
Question : What is an indicator of self-reliance?
Option 1: Increase in imports of the goods which could be produced in the country
Option 2: Avoiding imports of the goods which could be produced in the country
Option 3: Increase in exports of the goods which could not be produced in the country
Option 4: Avoiding exports of the goods which could be produced in the country
Question : Which of the following policy measures is not a step towards liberalisation?
Option 1: Increase in equity limit of foreign investment
Option 2: Enhancement in tariffs
Option 3: Removal of industrial licensing for certain industries
Option 4: Removal of the requirement of registration for certain industries
Question : Which of the following sectors was the focus of the first Five-Year Plan?
Option 1: Service Sector
Option 2: Agricultural Sector
Option 3: Industrial Sector
Option 4: Public Sector
Question : Which is the biggest tax-paying sector in India as of 2016?
Option 1: Agriculture sector
Option 2: Industrial sector
Option 3: Transport sector
Option 4: Banking sector
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile