Multiple choice

Consider the following measures adopted by the government for economic reforms (1990 - 2007): (a) Industrial licenses for the expansion of manufacturing base were abolished. (b) 100% foreign ownership was permitted. (c) Excise duty was increased on imports to discourage them. (d) VAT was imposed/levied on domestic products. (e) Price control was eased in many cases.

Which of the above is/are not in conformity?

  1. Only (a)

  2. Only (b) and (c)

  3. Only (c)

  4. Only (d) and (e)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Excise duty was stashed on imports apart from various other measures adopted viz, membership of WTO, foreign technical agreements, etc.

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