The effects of policies adopted during 1950-90 on Industrial Development of India : Achievements : a Economic growth got a push due to increased agricultural production. Industrial production also increased. b Growth of large scale industry projected an infra-structural shift in the Indian economy.
What are the main objectives of industrial policy?
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 main objectives of 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.
What was the impact of New Economic Policy in India?
ix) With the introduction of economic reforms, fiscal deficit has come down in 1991. Negative impact of new economic policy i) The new economic policy has neglected the agricultural sector as compared to industry, trade and service sector. In India agriculture sector continues to remain a major source of livelihood in rural areas.
What was the impact of new economic policy of 1991?
This policy opened the door of the India Economy for the global exposure for the first time. In this New Economic Policy P. V. Narasimha Rao government reduced the import duties, opened reserved sector for the private players, devalued the Indian currency to increase the export. This is also known as the LPG Model of growth. Hemant Singh
Which is a feature of New Economic Policy?
Privatisation: Another important feature of New Economic Policy is the promotion of the policy of privatisation. Here the word privatisation means introduction of private ownership in publicly owned and managed enterprises and also signifies introduction of private control and management in public sector enterprises.
What was the main thrust of the new industrial policy?
The main thrust of the new policy was the effective promotion of cottage and small industries widely dispersed in rural areas and small towns. In this policy the small sector was classified into three groups—cottage and household sector, tiny sector and small scale industries.
