UPSC Prelims 2002·GS1·economy·economic sectors and development

In the year 2001, the Prime Minister announced a five-year excise duty holiday for industries in

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  1. Acyclone prone coastal Andhra Pradesh
  2. Bborder states of North-east
  3. Cearthquake ravaged Kutch districtCorrect
  4. Drecently formed states of Chhattisgarh and Jharkhand

Explanation

The correct answer is C because on January 26, 2001, a massive earthquake struck the Kutch district of Gujarat, causing widespread devastation. To promote reconstruction and encourage industrial investment in the disaster-hit region, the then Prime Minister Atal Bihari Vajpayee announced a five year excise duty exemption for new industries set up in the Kutch district. This fiscal incentive was specifically designed to rebuild the local economy and generate employment after the catastrophe. The other regions mentioned did not receive this specific tax holiday announcement in that year.
economy: In the year 2001, the Prime Minister announced a five-year excise duty holiday for industries in
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