Question

3. Which of the following is not true about 'Industrial Licensing'? *
(2 Points)
In order to open new industry or to expand production, obtaining a license from the government was a
prerequisite
It was started in 1977 and was required for foreign companies looking to establish manufacturing facilities in
india.
Opening new industries in economically backward areas was incentivized through easy licensing and
subsidization of critical inputs like electricity and water.
Licenses to increase production were issued only if the government was convinced that the economy required
more of the goods.​

Answer 1

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