Question
Download Solution PDFWith progressive delicensing of industries as part of liberalisation, which of the following is the industry that is removed from the requirement of license?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Coal and lignite have been progressively removed from the requirement of licensing as part of liberalization efforts.
- This move is aimed at reducing regulatory bottlenecks and encouraging more investments in the sector.
- The delicensing has allowed private players to enter the market, increasing competition and efficiency.
- Industrial growth and energy security are key areas that benefit from such regulatory changes.
Additional Information
- Liberalization in India began in 1991, leading to significant economic reforms across various sectors.
- The Industrial Policy of 1991 aimed at deregulating the Indian industry to foster a more competitive and market-driven environment.
- Delicensing of industries has been a critical component of this policy, focusing on removing unnecessary bureaucratic controls.
- These reforms have contributed to India's growth trajectory, making it one of the fastest-growing economies in the world.
- Other sectors that have seen delicensing include telecommunications, insurance, and banking, among others.
Last updated on Jun 17, 2025
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