What are the main objectives of industrial policy 1991?
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The New Industrial Policy, 1991 had the main objective of providing facilities to market forces and to increase efficiency. The government allowed Domestic firms to import better technology to improve efficiency and to have access to better technology.
What are the objectives of industrial?
The major objectives of industrial policy are:
- (i) Rapid Industrial Development:
- (ii) Balanced industrial Structure:
- (iii) Prevention of Concentration of Economic Power:
- (iv) Balanced Regional Growth:
What is the industrial policy of 1991?
The 1991 policy attempted to liberalize the economy by removing bureaucratic hurdles in industrial growth. The role of the public sector was limited. Only 2 sectors were finally left reserved for the public sector. This reduced the burden on the government.
Which is the main objective of industrial policy 1956?
According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery. It laid down three categories of industries which were more sharply defined.
What are the objectives of industrial policies in India?
The main objectives of the Industrial Policy of the Government are (i) to maintain a sustained growth in productivity;(ii) to enhance gainful employment;(iii) to achieve optimal utilisation of human resources; (iv) to attain international competitiveness; and (v) to transform India into a major partner and player in …
What are the objectives of new economic policy?
The objectives of New Economic Policy are: (i) To reduce the domestic inflation rate. (ii) To improve the efficiency and productivity of the economy. (iii) To put the economy back on the path of sustainable growth with social justice.
What are the main features of the new industrial policy?
7 Main Features of the New Industrial Policy of India
- Abolition of Industrial Licensing:
- Public Sector’s Role Diluted:
- Abolition of Phased Manufacturing Programmes:
- MRTP Act:
- Free Entry to Foreign Investment and Technology:
- Industrial Location Policy Liberalised:
- Removal of Mandatory Convertibility Clause:
What is meant by industrial policy?
Industrial Policy is defined as the strategic effort by the state to encourage economic transformation, i.e. the shift from lower to higher productivity activities, between or within sectors.
What are the main objectives of industrial management?
The main Objectives of Industrial Management are: Achieving Maximum results with minimum efforts. Increasing the Efficiency of factors of Production. Maximum Prosperity for Employer & Employees.
Which of the following are the objectives of the new industrial policy?
The New Industrial Policy,1991 seeks to liberate the industry from the shackles of licensing system Drastically reduce the role of public sector and encourage foreign participation in India’s industrial development.
What are the objectives of industrial licensing?
What was the main objective of industrial licensing? Its aim was to establishment, expansion and ownership of private industries according to priorities of five-year plans and to check the monoply tendency in industries. It also had the objective of removing regional disparities.
How many industries are reserved in the industrial policy 1991?
eight industries
Likewise, from eight industries reserved for the public sector in 1991, there are only three industries reserved for the public sector at present, they are: Atomic energy.
What are the objectives of new industrial policy 1991?
The New Industrial Policy,1991 seeks to liberate the industry from the shackles of licensing system Drastically reduce the role of public sector and encourage foreign participation in India’s industrial development. The broad objectives of New Industrial Policy are as follows:
When was the first industrial policy introduced by the Indian government?
The new government by Shri Narasimha Rao, which took office in June 1991, announced a package of liberalisation measures under its Industrial Policy on July 24, 1991.
Which was the first noteworthy move in the industrial policy?
A noteworthy move in the industrial policy was made by the Congress (I) Government drove by Mr. P.B. Narasimha Rao on July 24, 1991.
What do you mean by industrial policy?
2. INTRODUCTION The industrial policy means the procedures, principles, policies rules and regulations which control the industrial undertaking of the country and pattern of industrialization. It explains the approach of Government in context to the development of industrial sector.