Which of the following was not a feature of the New Industrial Policy
1991?
(a) Abolition of industrial licensing
(b) Setting up of new public sector enterprises
(c) Permitted foreign investment
(d) Removal of MRTP limit
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Answer:
permitted foreign investment
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(d) Removal of MRTP limit was not a feature of the New Industrial Policy 1991.
Explanation:
- Except for the 18 industries listed in Annexure II of the ID & R Act, the NIP has removed the requirement for industrial licence, regardless of the degree of investment (1951).
- Existing and new industrial units now have the opportunity to brand any product as long as no additional capital expenditures in equipment and machinery are made.
- While foreign investment brings with it the benefits of technological transfer, marketing skills, the introduction of contemporary management systems, and export promotion, it must be welcomed.
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