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Consider the following statements and identify the right ones.
i. The 1991 industrial reforms exempted all industries from compulsory licensing
ii. There are six industries under compulsory licensing today
i. The 1991 industrial reforms exempted all industries from compulsory licensing
ii. There are six industries under compulsory licensing today
- a)I only
- b)ii only
- c)both
- d)none
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements and identify the right ones.i. The 1...
The 1991 industrial reforms exempted all industries from compulsory licensing except 18 industries.
Most Upvoted Answer
Consider the following statements and identify the right ones.i. The 1...
The correct answer is option B: ii only.
Explanation:
The two statements given are:
i. The 1991 industrial reforms exempted all industries from compulsory licensing.
ii. There are six industries under compulsory licensing today.
Let's analyze each statement separately:
i. The 1991 industrial reforms exempted all industries from compulsory licensing:
This statement is incorrect. The 1991 industrial reforms, also known as the New Industrial Policy, aimed to liberalize and deregulate the Indian economy. While it did introduce various measures to promote industrial growth and remove unnecessary controls, it did not exempt all industries from compulsory licensing. In fact, the policy significantly reduced the list of industries requiring compulsory licensing, but it did not completely eliminate the requirement.
ii. There are six industries under compulsory licensing today:
This statement is correct. Currently, there are six industries in India that require compulsory licensing. These industries are specified under the Industries (Development and Regulation) Act, 1951. The six industries are:
1. Distillation and brewing of alcoholic drinks
2. Cigars and cigarettes of tobacco and manufactured tobacco substitutes
3. Electronic aerospace and defense equipment
4. Industrial explosives, including detonating fuses, safety fuses, gunpowder, nitrocellulose, and matches
5. Hazardous chemicals, including fertilizers, acids, and dyes
6. Drugs and pharmaceuticals, including vaccines and formulations
These industries require compulsory licensing to ensure safety, quality control, and regulation of production and distribution.
To summarize, statement i is incorrect as the 1991 industrial reforms did not exempt all industries from compulsory licensing. However, statement ii is correct as there are currently six industries in India that require compulsory licensing. Therefore, the correct answer is option B: ii only.
Explanation:
The two statements given are:
i. The 1991 industrial reforms exempted all industries from compulsory licensing.
ii. There are six industries under compulsory licensing today.
Let's analyze each statement separately:
i. The 1991 industrial reforms exempted all industries from compulsory licensing:
This statement is incorrect. The 1991 industrial reforms, also known as the New Industrial Policy, aimed to liberalize and deregulate the Indian economy. While it did introduce various measures to promote industrial growth and remove unnecessary controls, it did not exempt all industries from compulsory licensing. In fact, the policy significantly reduced the list of industries requiring compulsory licensing, but it did not completely eliminate the requirement.
ii. There are six industries under compulsory licensing today:
This statement is correct. Currently, there are six industries in India that require compulsory licensing. These industries are specified under the Industries (Development and Regulation) Act, 1951. The six industries are:
1. Distillation and brewing of alcoholic drinks
2. Cigars and cigarettes of tobacco and manufactured tobacco substitutes
3. Electronic aerospace and defense equipment
4. Industrial explosives, including detonating fuses, safety fuses, gunpowder, nitrocellulose, and matches
5. Hazardous chemicals, including fertilizers, acids, and dyes
6. Drugs and pharmaceuticals, including vaccines and formulations
These industries require compulsory licensing to ensure safety, quality control, and regulation of production and distribution.
To summarize, statement i is incorrect as the 1991 industrial reforms did not exempt all industries from compulsory licensing. However, statement ii is correct as there are currently six industries in India that require compulsory licensing. Therefore, the correct answer is option B: ii only.
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Consider the following statements and identify the right ones.i. The 1991 industrial reforms exempted all industries from compulsory licensingii. There are six industries under compulsory licensing todaya)I onlyb)ii onlyc)bothd)noneCorrect answer is option 'B'. Can you explain this answer?
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