Question : Statement 1: The Special Economic Zones (SEZs) were established to promote export-oriented industries in India.
Statement 2: SEZs provided tax incentives and simplified regulatory processes for businesses.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is true. The New Economic Policy of 1991, also known as economic liberalization or economic reforms, was introduced to dismantle the License Raj system and liberalize India's industrial policies. It aimed to reduce government intervention, promote market-oriented reforms, and encourage private sector participation.
Statement 2 is also true. The New Economic Policy of 1991 indeed encouraged foreign investment and globalization. It opened up several sectors to foreign investment, relaxed restrictions on imports and exports, and promoted trade and economic integration with the global market.
Therefore, both statements are true. The New Economic Policy of 1991 aimed at liberalizing India's industrial policies, and it also encouraged foreign investment and globalization.
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Question : Assertion: The foreign trade policy during 1951-1991 aimed to promote export-oriented industries in India.
Reason: The policy provided tax incentives and simplified regulatory processes for businesses.
Option 1: Both the assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both the assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: The assertion is true, but the reason is false.
Option 4: The assertion is false, but the reason is true.
Question : Statement 1: The Industrial Policy Resolution of 1956 aimed to promote the development of heavy industries in India.
Statement 2: The resolution emphasized public sector dominance in key industries.
Question : Statement 1: The Industrial Policy Resolution of 1956 emphasized the development of small-scale industries in India.
Statement 2: The Industrial Policy Resolution aimed to promote state control over key industries.
Question : Statement 1: The Industrial Policy Resolution of 1956 aimed to promote the development of small-scale industries in India.
Statement 2: The resolution emphasized the role of large-scale industries in industrial growth.
Question : Statement 1: The Foreign Trade Policy of India during 1951-1991 focused on import substitution.
Statement 2: The policy aimed to reduce imports and promote domestic industries.
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