Question

State four achievements of the new industrial policy.

Answer 1

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(i) Liberalising the industry from the regulatory devices such as licenses and controls.

(ii) Enhancing support to the small scale sector.

(iii) Increasing competitiveness of industries for the benefit of the common man.

(iv) Ensuring running of public enterprises on business lines and thus cutting their losses.

(v) Providing more incentives for industrialisation of the backward areas

Answer 2

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It is an encompassing policy containing 50 integrated policy actions, that focuses on industrial transformation, especially towards more sustainable production, and on fostering economic and social transformations in order to remain (or become more) competitive in the future.