Question : The 1991 economic policy aimed to promote the development of which type of industries?
Option 1: Small-scale industries
Option 2: Cottage industries
Option 3: Heavy industries
Option 4: Public sector industries
Correct Answer: Small-scale industries
Solution : The correct answer is (a) Small-scale industries
The 1991 economic policy in India aimed to promote the development of small-scale industries. The policy shift towards liberalization and market-oriented reforms was intended to create a more conducive environment for the growth and expansion of small-scale enterprises.
Some of the key initiatives implemented to support small-scale industries included simplifying regulatory frameworks, providing easier access to credit, facilitating technology transfer, promoting entrepreneurship, and encouraging competitiveness. These measures aimed to create a more favorable business environment for small-scale enterprises to thrive and contribute to economic growth and employment generation.
Question : The Industrial Policy Resolution of 1956 aimed at promoting which type of industries?
Option 3: Large-scale industries
Option 4: Agro-based industries
Question : What was the main objective of industrial sector reforms in the 1991 economic policy?
Option 1: Promoting export-oriented industries
Option 2: Nationalizing key industries
Option 3: Encouraging small-scale industries
Option 4: Protecting domestic industries from foreign competition
Question : Which policy aimed to reduce the fiscal deficit and promote fiscal discipline in the 1991 economic policy?
Option 1: Monetary policy
Option 2: Fiscal policy
Option 3: Public debt policy
Option 4: External debt policy
Question : What was the primary objective of the New Industrial Policy of 1991?
Option 1: Restricting private sector participation
Option 2: Promoting small-scale industries
Option 3: Encouraging foreign investmentsd) Nationalizing key industries
Option 4: Nationalizing key industries
Question : The 1991 economic policy aimed to promote economic growth and development through:
Option 1: Centralized planning
Option 2: Isolationism
Option 3: Self-sufficiency
Option 4: Market-oriented reforms
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