Statement – I : The industrial policy of the Government of India is aimed at increasing the tempo of…
Statement (I) is correct because the overarching objective of India's industrial policies has been to accelerate the pace and tempo of industrial growth. Statement (II) is…
Choose your answer
Statement – I : The industrial policy of the Government of India is aimed at increasing the tempo of industrial development.
Statement – II : After the New Industrial Policy – 1991, the Balance of Trade for India has always been positive.
Answer and explanation
Correct answer A
Statement (I) is correct because the overarching objective of India's industrial policies has been to accelerate the pace and tempo of industrial growth. Statement (II) is incorrect because India's merchandise Balance of Trade has consistently remained in deficit (negative) after 1991 due to heavy imports of crude oil, capital goods, and gold. Thus, 'Statement (I) is correct, but (II) is incorrect.'
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UGC NET Commerce