Which of the following statement is incorrect in the context of the deregulation of the industrial sector attempted as a part of the liberalization process in 1991?
Answer & explanation
Correct answer: option 4
Industrial licensing was abolished for almost all but product categories — alcohol, cigarettes, hazardous chemicals, industrial explosives, electronics, aerospace and drugs and pharmaceuticals. The only industries which are now reserved for the public sector are a part of atomic energy generation and some core activities in railway transport. Many goods produced by small-scale industries have now been dereserved. In most industries, the market has been allowed to determine the prices.