Delicensing and Deregulation — Prelims Questions

Which of the following statements correctly distinguishes between 'delicensing' and 'deregulation' in the context of India's economic reforms?

Consider the following statements regarding the impact of delicensing and deregulation in India post-1991: 1. It led to a significant increase in competition across various industrial sectors. 2. It resulted in the complete abolition of all regulatory bodies in the economy. 3. It facilitated greater Foreign Direct Investment (FDI) inflows. 4. It shifted the government's role from a controller to a facilitator and regulator. Which of the statements given above are correct?

The Industries (Development and Regulation) Act, 1951 (IDRA) was primarily associated with which of the following economic policies in India?

Which of the following sectors in India has been a prominent example of successful deregulation leading to significant growth and competition, accompanied by the establishment of a strong independent regulatory body?

Consider the following statements regarding the 'paradox of deregulation' in India: 1. The removal of industrial licenses often led to a regulatory vacuum, causing market failures. 2. New independent regulatory bodies were established to ensure fair competition and consumer protection. 3. Some sectors required re-regulation due to initial excessive liberalization or market distortions. Which of the statements given above are correct?