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Assertion (A): One objective of liberalisation was to remove barriers to entry and growth of firms. Reason (R): The license raj restricted entrepreneurial freedom and market competition.

1. Both A and R are true and R is the correct explanation of A
2. Both A and R are true but R is not the correct explanation of A
3. A is true but R is false
4. A is false but R is true

Correct answer: Both A and R are true and R is the correct explanation of A

Solution

Both the assertion and reason are true. Liberalisation aimed to reduce controls and remove barriers to business entry and expansion. The license raj had indeed restricted entrepreneurship and competition, so the reason correctly explains the assertion.

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