After 1991, industrial licensing in India was abolished for: MCQ with Answer and Explanation

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After 1991, industrial licensing in India was abolished for:

A. only small scale industries

B. no industries

C. all industries including defence

D. most industries except a short list related to security and strategic concerns

Answer: Option D

Solution (By JKSSB Mock Tests)

Industrial licensing was abolished for most industries, retaining a short list for strategic and security reasons.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of international trade, 'Terms of Trade' refer to:

A. Value of exports to value of imports

B. Ratio of import prices to export prices

C. Ratio of export prices to import prices

D. Volume of exports to volume of imports

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Correct Answer: Option C

Explanation:
Terms of Trade (TOT) is the ratio of a country's export prices to its import prices, usually expressed as an index.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Bharatmala Pariyojana' was announced in which year?

A. 2019

B. 2018

C. 2014

D. 2017

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Correct Answer: Option D

Explanation:
Bharatmala Pariyojana was announced in 2017.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a type of foreign investment?

A. Foreign Portfolio Investment

B. Foreign Direct Investment

C. External Commercial Borrowings

D. Domestic bank deposits by residents

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Correct Answer: Option D

Explanation:
Domestic bank deposits by residents are not foreign investment. FDI, FPI and ECBs represent different forms of foreign capital inflows.

This question belongs to: Economy GK Economy Set 1

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