Question

Write a note on National Industrial RecoveryAct

Answer 1

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The National Industrial Recovery Act of 1933 (NIRA) was a US labor law and consumer law passed by the US Congress to authorize the President to regulate industry for fair wages and prices that would stimulate economic recovery.

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Answer 2

National Industrial Recovery Act:

1. This Act was a US law introduced by US Congress.
2. It was passed in 1933 to recover, revive and strengthen the economy. It was a labor and consumer law which permitted the President to promote the industry for fair wages for labour, prices to instigate economy recovery.  
3. The act also gave birth to the national public work commission known as Public Works Administration.  
4. The National Industrial Recovery Act was hailed for a year. It was rendered unconstitutional by the Supreme Court in 1935 with growing dissatisfaction and issues and has not been replaced by any other law to date.