Identify the measures taken by the government to protect small-scale industries in India during the first seven Five Year Plans:
A. Lower excise duty was imposed.
B. No quotas were specified and any quantity of goods needed for production could be imported by small scale industries.
C. Provision of bank loans at lower interest rates.
D. The production of the number of products was reserved for the small-scale industry.
Choose the correct answer from the options given below:
Identify the measures taken by the government to protect small-scale industries in India during the first seven Five Year Plans:
A. Lower excise duty was imposed.
B. No quotas were specified and any quantity of goods needed for production could be imported by small scale industries.
C. Provision of bank loans at lower interest rates.
D. The production of the number of products was reserved for the small-scale industry.
Choose the correct answer from the options given below:
Solution
To protect small-scale industries, the government imposed lower excise duty (A), provided bank loans at lower interest rates (C), and reserved the production of a number of products for the small-scale sector (D). Imports were tightly controlled through licences and quotas, so statement B is false. Answer: A, C and D only.
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