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Indian industrial policy reads as an endless list of resolutions, Acts and schemes, and candidates try to memorise them one by one. There is a far cheaper way in, because the whole subject is a story in three acts and every fact belongs to exactly one of them.
In the first act, running from independence to about 1990, the state took command. It reserved the most important industries for itself, required a licence before anyone could build a factory or expand one, and built heavy industry with public money.
In the second act, in 1991, the state stepped back. Licensing went for almost everything, the list of industries reserved for the public sector was cut sharply, foreign investment was welcomed, and the government began selling parts of its own companies.
In the third act, attention moved to the small enterprise, because that is where employment actually is.
When a question gives you a fact — a schedule, a licence, a disinvestment, a turnover limit — the useful first move is to ask which of the three acts it belongs to. That alone eliminates most of the options.
1. Which document is often described as the economic constitution of India?
2. The New Industrial Policy of 1991 is chiefly associated with:
3. Under the MSME classification revised in 2020, a micro enterprise is one whose investment does not exceed:
4. The MRTP Act of 1969 was repealed and replaced by:
5. India's first modern iron and steel plant, set up in 1907, was located at:
6. Ahmedabad has traditionally been known as:
7. MSMEs in India are now registered through which portal, introduced in 2020?
8. The Second Five Year Plan's emphasis on heavy industry drew its framework directly from: