What are the main features of industrial policy of 1991?
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.
What was the outcome of new industrial policy?
Outcomes of New Industrial Policies The policy provided easier entry of multinational companies, privatisation, removal of asset limit on MRTP companies, liberal licensing. All this resulted in increased competition, that led to lower prices in many goods such as electronics prices.
What are the basic elements of an industrial policy?
summary, there are four key elements relevant to industrial policy design: priorities, objectives, instruments and institutional responsibilities ( Table 1 presents brief definitions of these concepts). …
What are the main objectives of industrial policy?
The main objective of any industrial policy is to augment the industrial production and thereby enhance the industrial growth which leads to economic growth by optimum utilization of resources; modernization; balanced industrial development; balanced regional development (by providing concessions for industrial …
What are the main features of industrial policy 1956?
The main features of this Industrial Policy Resolution of 1956 were as follows:
- New Classification of industries:
- Assistance to Private Sector:
- Expanded role of Cottage and Small-Scale Industries:
- Balanced Industrial Growth among Various Regions:
- Role of Foreign Capital:
- Development of managerial and Technical Cadres:
What decisions were taken in the industrial policy resolution?
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 do you expect from industrial policy of any government?
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 you 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 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 major objectives of industrial policy 1956?
What are two characteristics of Industrial Policy Resolution of 1956?
What is ‘soft’ industrial policy?
24OECD SCIENCE, TECHNOLOGY AND INDUSTRY POLICY PAPERS “There is an important role for what we refer to as ‘soft’ industrial policy, whose goal is to develop a process whereby government, industry, and cluster-level private organisations can collaborate on interventions that can directly increase productivity.
What are some examples of industrial policy-type effects?
societal welfare, and the pursuit of these goals may have important industrial policy-type effects – examples might include regional policy, energy and climate change policy, health policy and defence/security policy.
Is there a case for active industrial policy?
Whether there is a case for active industrial policy is based on the long-standing debate regarding the presence of market failures on the one side (hence, providing a basis for industrial policy), and government failures which even in the presence of market failures might militate against industrial policy.
How can selective-strategic industrial policy risks be minimised?
The emerging consensus is that the risks associated with selective-strategic industrial policy can be minimised through a ‘soft’ form of industrial policy, based on a more facilitative, co-ordinating role for government, consistent with the systems approach described in this paper.