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Industrial Policy 1956,1991

Industrial Policy 1956,1991

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Published by Ram Yadav

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Published by: Ram Yadav on Mar 16, 2011
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Industrial Policy

Meaning of Industrial Policy Industrial policy means rules, regulations, principles, policies, & procedures laid down by government for regulating, developing & controlling industrial undertakings in the country.

Objectives
‡ Preventing undue concentration of economic power, Achieving industrial development ,Achieving economic growth ,Reducing disparities in regional development, Developing heavy & capital goods industry. Providing opportunities for gainful employment, Expanding the public sector for achieving socialism, Achieving a self- sustained economy .

INDIA¶S INDUSTRIAL POLICY
FROM 1948 TO 1991
‡ Industrial Policy, 6 April 1948 ‡ Industrial Policy Resolution,30 April 1956 ‡ Industrial Policy 23rd 1977 ‡ Industrial Policy July 1980 ‡ Industrial Policy 1991

Industrial Policy Resolution ± 1948
‡ The industrial activities were divided into four broad areas: Items under central government control Items state government control Items of basic importance would be planned 7 regulated by the central government Items for private sector

Industrial Policy Resoluiton-1956
‡ The second industrial policy was announced on 30 April, 1956 with basic objectives: Speeding up the process of industriliasation in India, Developing heavy & Capital goods industries, Expanding an effective public sector, Accelerating the rate of economic growht, Building up a large & growing co-operative sector ,Encouraging private sector industries

Industrial Policy Resoluiton-1956
Preventing private monopolies, Developing small-scale, village & cottage industries ,Achiving balanced economic development ,Participation of workers in managemnt , The classification of industries under three heads viz., Schedule A Schedule B Schedule C

Schedule ³ A´ industries
‡ Arms , Ammunition and defence equipment, Atomic energy, Heavy castings & forging of iron & steel Iron & steel, Heavy plant & machinery required for iron and steel production. Mining, machinery tools & other basic industries. Heavy electrical plant, Coal & lignite Mineral oils ,Mining of iron ore, manganese ore, chrome ore, gypsum, gold, diamonds & sulphus

Schedule ³ A´ industries
‡ Minerals as per Atomic Energy Order,1953 Aircraft Air transport ,Railway Transport ,Ship Building ,Telephone & telephone Cables, telegraph & wireless instruments excluding radio reviewing sets Generation& distribution of electricity

Schedule ³B´Industries
Other mineral excepting minor minerals defined in the minerals concession Rules,1949. Aluminum & other non- ferrous metals not included in Schedule´A´ Ferro alloys & tools, steels, Machine tools Manufacture of drugs, dyestuffs, plastics & other basic & intermediate products required by chemicals industries , Fertilizers Synthetic rubber, Carbonization of coal Chemical pulp, Road transport, Sea transport Schedule ³C´- Private Sector Units,other than Schedule A and B

New Industrial Policy-1991
The objectives of the Policy are: Reducing or minimizing the bureaucratic control of the industrial economy of India Liberalization of industrial and economic activities Removing restrictions on foreign investment Freeing the domestic entrepreneur Streamlining the role of public sector enterprises

Industrial Policy 1991
The other areas covered in New Industrial policy are 1.Industrial Licensing 2.Foreign Investment 3.Technology transfer 4.Public sector policy 5.Policy relating to MRTP Act 6.An exclusive small-sector policy ‡ In tune with the emerging trends of globalization of business, the 1991 industrial policy initiated a number of measures to liberalize the Licensing system in India. In order to update the technology base & to ensure adequate technological competence, adequate incentives were provided for technology imports.

‡ A parliamentary sub- committee was appointed by the government of India in 1992 to prepare a comprehensive report on the viability of sick public sector units .The public sector was brought under the MRTP commission with effect from September 27,1991 ‡

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