Which among the following is not a correct combination ?
Industrial Policy Statement – 1991
India's main industrial policy documents are: the Industrial Policy Resolution of 6 April 1948, the Industrial Policy Resolution of 1956, the Industrial Policy Statement of December 1977 (Janata Government, stressing small and cottage industries), the Industrial Policy Statement of July 1980, and the policy announced on 24 July 1991.
The 1948 policy marked the beginning of the mixed economy approach, so pairing it with 1948 is correct. The 1977 and 1980 documents were both formally issued as Industrial Policy Statements, so those two pairings are also correct.
The 1991 policy, which abolished licensing for most industries, reduced the reserved list for the public sector and opened the door to foreign investment, is universally known as the New Industrial Policy, 1991. The key treats the label "Industrial Policy Statement – 1991" as the incorrect combination on this basis.
This key is doubtful. The 1991 document was itself tabled in Parliament as the "Statement on Industrial Policy", so the 1991 pairing can also be defended, and the 1948 document was strictly a Resolution rather than a plain policy. All four years are genuine policy years, so the item rests only on the conventional name "New Industrial Policy" for 1991.
Hence, Industrial Policy Statement – 1991.
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