✅ Answer: B) It abolished industrial licensing for most industriesThe New Industrial Policy of July 24, 1991 abolished industrial licensing for most industries (except 18 specified industries). It also reduced industries reserved for the public sector, liberalised FDI, and removed MRTP Act restrictions. This dismantled the Licence Raj.

✅ Answer: B)The Licence Raj (1947-1991) was an elaborate system where businesses needed government licences for almost every activity — starting a business, expanding capacity, importing raw materials, etc. This system was dismantled by the New Industrial Policy of 1991.

✅ Answer: C) BSNLBSNL is NOT a Maharatna PSU. Maharatna PSUs include ONGC, BHEL, SAIL, NTPC, Coal India, Indian Oil, GAIL, BPCL, HAL, Power Grid Corporation. BSNL has been making losses and does not meet the Maharatna criteria.

✅ Answer: B) 2nd largestIndia has the world’s 2nd largest road network (~63 lakh km), after the USA. India also has the 4th largest railway network globally (~68,000 km). India is the 3rd largest electricity producer globally.

✅ Answer: C) ₹20 lakh crorePM Modi announced the Atmanirbhar Bharat economic package of ₹20 lakh crore (approximately 10% of India’s GDP) on May 12, 2020 during the COVID-19 pandemic. The package included measures for MSMEs, agriculture, migrant workers, and various sectors.

✅ Answer: B) January 16, 2016Startup India was launched on January 16, 2016. It provides tax exemptions for 3 years, simplified compliance, and a Fund of Funds of ₹10,000 crore. India is now the 3rd largest startup ecosystem globally with 100+ unicorns.

✅ Answer: C) Port-led developmentThe Sagarmala Programme is a port-led development initiative launched in 2015. It aims to modernise India’s ports, develop coastal shipping, and promote port-led industrialisation. India handles ~95% of its trade by volume through ports.

✅ Answer: C) Atomic Energy and Railway OperationsCurrently, only 2 industries are reserved exclusively for the public sector: (1) Atomic Energy, and (2) Railway Operations. All other industries, including steel, coal, banking, insurance, defence, and petroleum, are open to private sector participation.

✅ Answer: B) JapanThe Delhi-Mumbai Industrial Corridor (DMIC) is being developed with Japanese collaboration. It is a mega infrastructure project spanning 1,483 km along the Western Dedicated Freight Corridor. It aims to develop industrial zones, smart cities, and world-class infrastructure.

✅ Answer: C) 45%MSMEs contribute approximately 45% of India’s total exports. They also contribute ~30% of GDP and employ ~110 million people. MSMEs account for ~95% of all industrial units in India, making them the backbone of India’s industrial economy.