Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Regulatory Mechanisms Before 1991
Before 1991, regulatory mechanisms in India included all EXCEPT:
- Industrial licensing
- Private sector banned from many industries
- Controls on price fixation
- Free entry of foreign companies without restrictions — Correct Answer
Explanation:
Correct Answer Explanation
Before 1991: (i) Industrial licensing, (ii) Private sector not allowed in many industries, (iii) Some goods only in small-scale, (iv) Controls on price fixation. Free entry of foreign companies was NOT permitted.
Key Points:
- Every entrepreneur needed government permission to start/close a firm.
- Even the amount of goods to be produced was controlled.
📚 About this Topic — CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL
This multiple choice question is from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL to strengthen your preparation.
