Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Which industry's import licensing was NOT abolished in 1991 as part of trade policy reforms?

Options:

Environmentally sensitive industries.

Hazardous industries

Telecommunication Industry

Both 1 and 2

Correct Answer:

Both 1 and 2

Explanation:

Import licensing was abolished except in case of hazardous and environmentally sensitive industries. Quantitative restrictions on imports of manufactured consumer goods and agricultural products were also fully removed from April 2001.