Which of the following is NOT the socio-economic objective of Industrial Policy Statement 1980?

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Step 1: Recall the aims of the Industrial Policy Statement of $1980$ — it emphasized social objectives such as higher employment generation, protection of consumers, promotion of balanced and export-oriented industrial growth, and support to small-scale and labour-intensive industries.

Step 2: Match options to these aims:
- (1) Higher employment generation — Yes, an explicit socio-economic objective.
- (2) Consumer protection against high prices and bad quality — Yes, consumer welfare was a stated concern.
- (3) Promotion of export-oriented industries — Yes, export promotion was part of growth strategy.
- (4) Allowing the maximum foreign direct investment — No: the 1980 policy did not advocate unlimited or "maximum" FDI; it favored regulated FDI to protect domestic industry and socio-economic goals.

Conclusion: Option (4) is NOT a socio-economic objective of the Industrial Policy Statement of $1980$.

FINAL_ANSWER: d

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