Multiple choice

Find the incorrect statement.

  1. The base year for Index of Industrial production (IIP) has been changed to 1993-94.

  2. A separate Industrial policy for small units was declared in August 1991.

  3. Golden Hand Shake Scheme is related to Voluntary retirement of employees in Public Sector Enterprises.

  4. FEMA has been replaced with FERA.

  5. Cloth Industry is the largest Industry in the country.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

FERA (Foreign Exchange Regulation Act) was replaced by FEMA (Foreign Exchange Management Act) in 1999, not the other way around. Therefore, the statement that FEMA was replaced with FERA is incorrect.

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