Assertion (A): Reliance industries is a privately-owned firm.

Reason (R): Government is a major stakeholder in reliance industries.

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Both (A) and (R) are true and (R) is the correct explanation of (A).

Both (A) and (R) are true but (R) is not the correct explanation of (A).

(A) is true but (R) is false.

(A) is false but (R) is true.

answer is C.

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Detailed Solution

(A) is true but (R) is false.
Dhirubhai Ambani founded Reliance Industries Limited, an Indian multinational conglomerate based in Mumbai, India. The assets and delivery of goods and services in the Reliance industry are controlled by private individuals, making it a privately owned company. Private individuals own the private sector. Life Insurance Corporation of India is the largest non-promoter shareholder, with 7.98 per cent of the company's shares. The government owns shares and is not a stakeholder because it is privately owned. Reliance industries come under the unorganised sector, and the government has no authority to apply its rules and regulations to this sector.

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