Arrange the following in chronological order (oldest to latest)
(A) The Tata Iron and Steel Company (TISCO).
(B) Introduction of railways in India.
(C) Removal of License Raj in India.
(D) Planning Commission in India
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (B), (A), (D), (C)
The four events trace Indian industry from colonial rule to the reforms of 1991: railways built by the British, steel made by Indian enterprise, planning after independence, and finally the removal of planning’s controls.
(B) Introduction of railways in India. — 1850. The British introduced the railways in India in 1850, and the railways are considered one of their most important contributions; they opened up long distance travel and fostered the commercialisation of agriculture.
(A) The Tata Iron and Steel Company (TISCO). — 1907. The iron and steel industry began coming up at the beginning of the twentieth century, and TISCO was incorporated in 1907.
(D) Planning Commission in India — 1950. After independence, the Planning Commission was set up in 1950 with the Prime Minister as its Chairperson, and the era of Five Year Plans began.
(C) Removal of License Raj in India. — 1991. Under the ‘permit license raj’ a firm needed a government licence to start, expand or diversify production. The New Economic Policy of 1991 abolished industrial licensing for all but a few product categories.