Question : What was a key economic reform introduced in the 1990s that was influenced by the rise of new economic interests during the era of planned development?
Option 1: Nationalization of banks
Option 2: Liberalization of trade policies
Option 3: Introduction of Goods and Services Tax (GST)
Option 4: Abolition of industrial licensing
Answer (1)
23rd Jan, 2024
Correct Answer: Abolition of industrial licensing
Solution : A key economic reform introduced in the 1990s, influenced by the rise of new economic interests during the era of planned development, was the abolition of industrial licensing, which aimed to reduce government control and promote private investment.
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