Question

Match the following and choose the correct code :

Committee	Work
a) Dutta committee	1. Indirect tax inquiry committee
b) Sundarajan committee	2. Insurance reforms
c) L.K Jha committee	3. Oil sector revision
d) R.N Malhotra committee	4. Industrial Licence policy

 

1. a-4, b-1, c-3, d-2
2. a-2, b-1, c-3, d-4
3. a-4, b-3, c-1, d-2
4. a-1, b-4, c-3, d-2

Answer 1

Correct Answer - Option 3 : a-4, b-3, c-1, d-2

The correct answer is a-4, b-3, c-1, d-2.

• In April 1968, Industrial license committee was appointed under the chairmanship of S. Dutt.
  • A committee to go into the basic questions regarding the functioning of the licensing system and the advantages obtained by some large industrial houses was appointed.
• In 1976 the Indirect Taxation Enquiry Committee was constituted under the chairmanship of Dr. L.K. Jha.
• In 1993, the Government set up a committee under the chairmanship of R N Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance sector.
  • The objective was to complement the reforms initiated in the financial sector.
  • The committee submitted its report in 1994 wherein, among other things, it recommended that the private sector be permitted to enter the insurance industry.
  • They stated that foreign companies be allowed to enter by floating Indian companies, preferably a joint venture with Indian partners.
• In 1994, the Ministry of Petroleum set up a committee under the Chairmanship of Shri U. Sundararajan, 
  • It was tasked to provide a framework for the development of Market Determined Price Mechanism (MDPM) for several petroleum products.