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
Correct Answer: Encouraging foreign investmentsd) Nationalizing key industries
Solution : The correct answer is (c) Encouraging foreign investments
The New Industrial Policy of 1991 aimed to liberalize and reform India's industrial sector, with a particular emphasis on encouraging foreign investments. It marked a significant shift in India's economic policies by moving away from the earlier era of extensive government control and protectionism.
By encouraging foreign investments, the policy aimed to benefit from the capital, technology, managerial expertise, and market access that foreign companies could bring to the Indian economy. It was a strategic move to integrate India with the global economy, promote industrial competitiveness, and create opportunities for domestic industries to access global markets. Objective of the New Industrial Policy of 1991 was to encourage foreign investments as a means to foster industrial growth and development.
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 : What was the main objective of the Telecommunication Policy of 1999 in India?
Option 1: Encouraging private sector participation
Option 2: Nationalizing telecommunication services
Option 3: Restricting foreign investments
Option 4: Promoting rural connectivity
Question : The Industrial Policy Resolution of 1956 aimed at promoting which type of industries?
Option 1: Small-scale industries
Option 2: Cottage industries
Option 3: Large-scale industries
Option 4: Agro-based industries
Question : What was the main objective of financial sector reforms in the 1991 economic policy?
Option 1: Encouraging foreign direct investment (FDI)
Option 2: Strengthening the banking sector
Option 3: Promoting rural credit
Option 4: Controlling inflation
Question : The 1991 economic policy aimed to promote the development of which type of industries?
Option 3: Heavy industries
Option 4: Public sector industries
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