Economics · Economic Reforms
Which reform after 1991 effectively ended the 'License Raj' by eliminating compulsory industrial licensing for most sectors?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It created a parallel market-led licensing regime managed by the Planning Commission.
- 2It ended compulsory licensing for most industries but retained it selectively for a few strategic sectors.✓
- 3It abolished industrial licensing for all industries, including strategic sectors.
- 4It transferred all industrial licensing powers to state governments.
Correct answer
It ended compulsory licensing for most industries but retained it selectively for a few strategic sectors.
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