Official Answer Key & Detailed Solution
Ready to check the official UPSC Answer Key?
Click any option above to test yourself under exam conditions, or reveal the explanation directly.
Correct Answer: Option (A) — substantial changes in industrial licensing policy
Concept & Option Breakdown
Standard Reference VerifiedThe landmark economic reforms of July 1991 commenced with the announcement of the New Industrial Policy (NIP 1991), which abolished industrial licensing for almost all sectors (except a very small list related to defense, hazardous chemicals, and strategic areas), effectively ending the 'License-Permit Raj'.
Practice Full-Length & Sectional Prelims Mocks on this Interface
50 simulated tests in the APT Prelims Test Series (₹1,493) or 1-on-1 Mentorship with Avinash Sir.