Given below are two statements: Statement I: The main features of the Industrial Policy - 1991 include the abolition of industrial licensing, a diminishing role for the public sector, the scrapping of the MRTP asset limit, and the liberalization of conditions for foreign investment and technology entry. Statement II: The first Industrial Policy Resolution of independent India was issued in 1948. In the light of the above statements, choose the correct answer from the options given below:

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Economics · Industrial Policy

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Statement I is correct but Statement II is incorrect

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Answer 1

Statement I is incorrect but Statement II is correct

Answer 2

Statement I is correct but Statement II is incorrect

Answer 3

Both Statement I and Statement II are incorrect

Answer 4

Both Statement I and Statement II are correct

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