In context with the Retail Trading in India consider the following statements:
1. Retail is a Union Subject enlisted in the 7th Schedule of Constitution of India.
2. India has a well developed national legislative framework for retail’s regulation and development
3. State Governments have no powers in enacting the legislations in Retail Trade
Which among the above statements is / are correct?

Answer: [D] None of them is correct

In India, retail trade is a state subject. There is no national framework for its regulation and development and states have their own regulations.

This question is a part of GKToday's Integrated IAS General Studies Module