What are the features of 1948 industrial policy?
On April 30, 1948, the Government of India passed a policy resolution – The Industrial Policy Resolution, 1948 (IPR, 1948). It divided the industrial sector into four broad groups: Group 1 – Basic and strategic industries like arms and ammunition, atomic energy, railways, etc.
What are the features and elements of industrial policy?
The main features of Industrial Policy 1991 were – (1) public sector de-reservation, (2) industrial licensing abolished, (3) disinvestment in the public sector, (4) allowing foreign capital investment, etc. 3. Which Were the Important Private Controlled Industries that Were Addressed in the First Industrial Policy?
What were the features of the industrial policy of IPR 1956?( 5?
Fair and non-discriminatory treatment for the private sector, encouragement to village and small-scale enterprises, removing regional disparities, and the need for the provision of amenities for labor, and attitude to foreign capital were other salient features of the IPR 1956.
What is the features of industrial policy resolution?
What are the main objectives of industrial policy 1991?
OBJECTIVES OF NEW INDUSTRIAL POLICY, 1991 To liberalise the economy To increase employment opportunities To encourage foreign assistance and co-partnership To make the Public Sector more competitive To increase the production and productivity, give encouragement to industries To liberate the economy from various …
What were the major changes in industrial policy 1991?
The 1991 policy made ‘Licence, Permit and Quota Raj’ a thing of the past. It attempted to liberalise the economy by removing bureaucratic hurdles in industrial growth. Limited role of Public sector reduced the burden of the Government.
What are the main features of industrial policy 1977?
Salient Features of Industrial Policy Statement 1977
- Special Focus on Small−scale Industries.
- Focus on Labour−intensive Technology.
- Viability of Public Sector.
- Focus on Indigenous Technology.
- Focus on self-sufficiency.
- Balanced Regional Development.
- Workers’ Participation.
- Restrictions on Foreign Investments.
What are the main features of industries?
Services are used by industry and trade….Features or characteristics of industry can be discussed as follows:
- Economic activity. Industry is an economic activity.
- Production. Production is the main characteristic of industry.
- Utility. Industry creates form utility.
- Wide scope. Industry has wide scope.
- Component of business.
What was the purpose of Industrial Policy Resolution 1956 Class 12?
Answer: The Industrial Policy Resolution (IPR) 1956 was adopted in order to achieve the aim of a socialist state with government controlling the major strategic industries of the economy.
What is the main purpose of industrial policy 1980?
Industrial Policy of 1980 sought to promote the concept of economic federation, to raise the efficiency of the public sector and to reverse the trend of industrial production of the past three years and reaffirmed its faith in the Monopolies and Restrictive Trade Practices (MRTP) Act and the Foreign Exchange Regulation …
What are the objectives and features of new industrial policy 1991?
What are the features and objectives of industrial policy 1991?
What was the Industrial Policy Resolution of 1948?
The Industrial Policy Resolution, 1948, drawn in the context of our objectives of Democratic Socialism through mixed economic structure, divided the industrial structure into four groups: 1. Basic and strategic industries such as arms and ammunition, atomic energy, railways, etc., shall be the exclusive monopoly of the State.
What was the Industrial Policy Statement of 1980?
The Industrial Policy Statement of 1980 addressed the need for promoting competition in the domestic market, modernization, selective Liberalization, and technological up-gradation. Due to this policy, the MRTP Act (Monopolies Restrictive Trade Practices) and FERA Act (Foreign Exchange Regulation Act, 1973) were introduced.
What was the government’s industrial policy in 1951?
The private sector had the primary initiative of development. However, they needed to fit within the economic and social priorities and policies of the Government. Further, they were subject to the provisions of the Industries (Development and Regulation) Act, 1951.
How is industrial policy an instrument of industrialisation?
A country must formulate industrial policy as an instrument of industrialisation. The public sector may be invited to implement industrial policy. In a country like India, where private sector is allowed to coexist in business, its control and regulation is necessary.