NextQ171
(i) ``The Industrial Policy Resolution 1956, gave primacy to the government, making it responsible for the industrial development.'' Briefly outline the classification of industries into various categories. (ii) ``Economic reforms of 1991 failed miserably on the agricultural front.'' Justify the given statement, giving valid reasons in support of your answer. (i) "Subsidies in the agriculture sector have been a debated question for long." Validate the argument that subsidies should be gradually phased out in the agriculture sector. (ii) Define `liberalisation'. State any two liberalisation reforms introduced in the fiscal sector.
Question 170
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