Question : Which policy aimed to dismantle the license raj and reduce government control in India?
Option 1: Import substitution
Option 2: Swadeshi movement
Option 3: New Economic Policy
Option 4: Five-Year Plans
Correct Answer: New Economic Policy
Solution : The correct answer is (c) New Economic Policy
The New Economic Policy, also known as the economic reforms of 1991, aimed to dismantle the license raj and reduce government control in India. The license raj was a system of extensive government regulations and permits that required businesses to obtain licenses and permissions for various activities. It often resulted in bureaucratic red tape, corruption, and limited economic freedom.
The New Economic Policy introduced a series of measures to liberalize the Indian economy and reduce government intervention. It included significant reforms such as deregulation, reduction of industrial licensing, simplification of trade policies, and opening up sectors to private investment. These reforms aimed to create a more market-oriented economy, promote competition, attract foreign investment, and enhance overall efficiency and growth.
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Question : Which policy aimed to replace import-oriented development with export-oriented growth in India?
Option 1: Swadeshi movement
Option 2: Import substitution
Option 3: Export promotion
Option 4: Public-private partnership
Question : Which policy aimed to protect domestic industries from foreign competition in India?
Option 2: Export promotion
Option 3: Public-private partnership
Option 4: Swadeshi movement
Question : The New Economic Policy of 1991 in India is associated with which of the following measures?
Option 2: Disinvestment in public sector units
Option 3: Nationalization of banks
Option 4: Emphasis on agrarian economy
Question : Which movement was launched by Mahatma Gandhi in 1920 as part of the Indian National Movement?
Option 1: Swadeshi Movement
Option 2: Civil Disobedience Movement
Option 3: Non-Cooperation Movement
Option 4: Quit India Movement
Question : The 1991 economic policy in India aimed to address:
Option 1: Increasing government control in the economy
Option 2: High inflation and fiscal deficit
Option 3: Excessive privatization of public enterprises
Option 4: Declining foreign direct investment (FDI)
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