Discussion
Which one of the following cannot be considered as one of the salient features of major changes announced in industrial policy on 24 July, 1991 ?
Answer: C
The feature that does not belong is effective promotion of small industries widely dispersed in rural areas and small towns.
The Statement on Industrial Policy of 24 July 1991 made four main changes: it abolished industrial licensing except for a short list of industries; it opened the economy to foreign investment, with automatic approval up to 51 per cent in priority industries, and to foreign technology agreements; it reduced the areas reserved for the public sector; and it amended the MRTP Act to scrap the provisions on concentration of economic power and pre-entry approval of large houses.
Measures for small, tiny and village enterprises were announced separately, in a policy statement of August 1991, so they were not among the salient features of the July statement. That is why the other three options, which describe the July changes, are wrong.
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