Which of the following statements are false?

• New economic policy was announced in the year 1993.
• Stabilisation measures are short term measures to check BOP and inflation.
• Devaluation of rupee encourages imports and discourages exports.
• License is required for the production of Industrial explosive.

1 and 3

New economic policy was introduced when the country was facing an economic crisis in the year 1991.

Devaluation of a currency encourages exports as they become cheaper. That is why in 1991, in order to improve the BOP position of the country, the government devalued Rupee.