Statement – I : The industrial policy of the Government of India is aimed at increasing the tempo of industrial development. Statement – II : After the New Industrial Policy – 1991, the Balance of Trade for India has always been positive. Codes :
Statement (I) is correct, but (II) is incorrect.
Statement I: Every industrial policy of the Government of India, from 1948 to 1991, has aimed at accelerating the pace of industrialisation, raising productivity and employment and achieving balanced regional growth. Increasing the tempo of industrial development is thus a stated objective, so Statement I is correct.
Statement II: The balance of trade is the difference between the value of merchandise exports and imports. After 1991, India's imports (especially crude oil, gold, capital goods and electronics) have consistently exceeded its exports, and India has recorded a merchandise trade deficit in every year since then, which widened sharply in the 2000s.
So the balance of trade has not always been positive after 1991; it has in fact been negative. Statement II is incorrect.
Hence, Statement (I) is correct, but (II) is incorrect.
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