Practicing Success
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? |
Industrial licensing was abolished for all product categories. Goods produced by the small-scale industries were dereserved. In all industries the market was allowed to determine the prices. All of the above |
All of the above |
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. |