Consider the following facts related to Indian economy since Independence and New Economic Reform 1991.
(A) Quantitative restrictions on imports were fully removed from April 2001
(B) Goods and Service Act was passed in 1991
(C) P.C. Mahalanobis was born in Kerala
(D) Planning Commission was set up in 1950
(E) Tariff Barriers are recognised restrictions on imports
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is option (4) : (A), (D) and (E) only
Explanation :
(A) Quantitative restrictions on imports were fully removed from April 2001 : correct.
(B) Goods and Service Act was passed in 1991 : Incorrect. July 2017.
(C) P.C. Mahalanobis was born in Kerala : Incorrect. He was born in Kolkata.
(D) Planning Commission was set up in 1950 : correct.
(E) Tariff Barriers are recognised restrictions on imports : this is correct.