Question : The 1991 economic policy aimed to promote entrepreneurship and innovation through:
Option 1: Licensing and regulations
Option 2: Subsidies and tax incentives
Option 3: Import restrictions
Option 4: Monopoly control
Correct Answer: Subsidies and tax incentives
Solution : The correct answer is (b) Subsidies and tax incentives
The policy introduced several reforms to streamline and simplify the taxation system, reduce tax rates, and offer tax incentives to businesses, especially in sectors considered crucial for economic growth. These incentives included exemptions, deductions, and subsidies to encourage investment, research and development, and technological innovation.
By providing subsidies and tax incentives, the 1991 economic policy aimed to create a conducive environment for entrepreneurship and innovation, enabling businesses to thrive, expand, and contribute to the overall economic development of the country.
Question : Why is entrepreneurship development important?
Option 1: It promotes economic growth and development
Option 2: It provides job opportunities
Option 3: It fosters innovation and creativity
Option 4: All of the above
Question : The objective of the Atal Innovation Mission is to:
Option 1: Promote entrepreneurship and innovation in India
Option 2: Develop infrastructure for rural areas
Option 3: Enhance digital literacy across the country
Option 4: Improve the ease of doing business in India
Question : Statement 1: The Atal Innovation Mission supports women only in the technology sector through funding and mentorship.
Statement 2: It aims to promote innovation and entrepreneurship across all sectors of the economy.
Option 1: Both statements are true.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 2 is true, but statement 1 is false.
Option 4: Both statements are false.
Question : Statement 1: The Atal Innovation Mission supports entrepreneurs in the technology sector through funding and mentorship.
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