Write the industrial sector initiatives adopted during 1950 to 1990 ?
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Below are the initiative taken in industrial sector during 1950 to 1990.
- After independence the industrial sector was very poor in India. Its contribution was only 11.8% of GDP.
- The controls of industries are given to the states by government.
- India has taken industrial policy resolution in 1956, during the second five year plan.
- Karve Committee was established to help promoting small scale industries.
- Government started strengthening the infrastructure for industrial development.
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The industrial sector initiatives adopted from 1950 to 1990 were as follows:
- Promotion of small-scale industries for the purpose of rural development.
- Determining methods for the strengthening of Infrastructure for Industrial Development.
- Focus on promotion of Capital Goods Industry.
Explanation:
- The main focus of the industrial policy was to systematically introduce more capital in the industry.
- Since the biggest problem for industrial development was the lack of capital for expanding and building the industries.
- Since the industries played an important role in the growth of the economy hence the government introduced incentives for promoting the industrial sector after independence.
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