Which of the following statement (s) is/are correct?
Statement 1: A few liberalisation measures were introduced by India in 1970s and 1980s in areas of industrial licensing, export-import policy etc.
Statement 2: Liberalisation reform policies initiated in 1991 were more comprehensive.
Answer & explanation
Correct answer: option 2
Though a few liberalisation measures were introduced in 1980s in areas of industrial licensing, export-import policy, technology upgradation, fiscal policy and foreign investment, reform policies initiated in 1991 were more comprehensive.