Question

Write any two features of industrial policy from 1947-90​

Answer 1

HELLO DRAR,

Industrial policy in India

The various industrial policy introduced by the Indian government are as follow:

Industrial policy resolution 1948:-

1) indicate the Indian economy and mixed economy.

2) small scale and cottage industry be given the importance.

3) government restricted for investments.

Industrial policy resolution 1956:-

1)this policy laid down the basic framework of industrial policy.

2) this policy is also known as economic constitution of India.

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Answer 2

Industrial policy promotes the production and growth of the economy, mostly concentrated on all or part of the manufacturing sector.

The features of industrial policy are -

• Resolution of 1956

1. During the second five-year plan, the industrial policy resolution went into effect. The intention was to bring more private capital into the sector, but in a systematic manner.
2. The objective behind industrial policy involved looking over product quality. It was also an important tool for fostering regional equity, ensuring that factories were developed in economically backward regions.

• Promotion of Capital goods

1. Capital goods are items used in the manufacturing of other products and are not for sale to the customer directly, but are symbol of a strong manufacturing industry. So, for the growth of manufacturing sector, the government decided to concentrate on the capital goods industry.
2. in the second five-year plan, the Mahalanobis model came into effect. Here, the emphasis was on heavy industries , especially those manufacturing capital goods.