Here Navdeep Kaur is providing Answer Key with Explanation for Commerce CBSE UGC NET held on 5th November 2017 Business Environment 1. From the following statements of Assertion (A) and Reasoning (R), indicate the correct code : Assertion (A) : Industrial liberalisation became an imperative condition for the growth of forces of competition leading to high efficiency and productivity in Indian industries. Reasoning (R) : Industrial development and curbing of poverty is only possible through government intervention. Code : (1) (A) and (R) both are not correct. (2) (A) is correct but (R) is not the correct explanation of (A). (3) (A) is correct and (R) is correct explanation of (A). (4) (A) is not correct but (R) is correct. The new policies have liberalized many government controls on production capacity, imported capital goods, intermediate inputs and technology. The main thrust of these reforms has been on openness, that is, import liberalisa