Question: 1991 Industries Policy For Reservation For Public Sector In Industrial?
a. Handicrafts
b. Atomic energy
c. Arms Ammunitions
d. Coal and lignite.
Show Answer
The 1991 Industrial Policy of India marked a significant shift in the country’s approach to industrial development, particularly regarding the public sector’s role. Before this policy, the public sector enjoyed exclusive rights to operate in certain industries, effectively keeping these sectors reserved for government-owned enterprises. This was part of a broader strategy to control the economy and ensure public ownership of critical industries.
The 1991 policy, however, liberalized these restrictions. It reduced the number of industries exclusively reserved for the public sector from 17 to just 8. This shift was aimed at increasing efficiency, encouraging competition, and attracting private investment, both domestic and foreign. The move was part of a larger set of economic reforms initiated in 1991 under then Finance Minister Dr. Manmohan Singh, which aimed to liberalize the Indian economy, open it up to global markets, and reduce the dominance of the state in many sectors of the economy.
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