With progressive delicensing of industries as part of liberalisation, which of the following is the industry that is removed from the requirement of license?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Coal and lignite.
- The progressive delicensing as part of India's liberalization, the coal and lignite industry was removed from the requirement of a license.
- This deregulation aimed to encourage private sector participation and boost efficiency within the sector.
- By eliminating the need for licenses, the government sought to foster competition, improve productivity, and facilitate the growth of the industry.
- This move was part of a broader economic reform strategy designed to reduce bureaucratic red tape and stimulate economic development across various sectors.