Consider the following statements:
1. Prior to liberalization, India had a floating exchange rate system.
2. Government companies can be converted into private companies by outright sale only.
3. Removal of mandatory convertibility clause and abolition of phased manufacturing programmes for new projects are important features of the LPG Policy 1991
4. Post liberalization, Monopolies and Restrictive Trade Practices (MRTP) Act was replaced by the Competition Act
Which of the above statements is/ are correct?
1
1 and 4
2
3 and 4
3
2 and 3
4
Only 3