economics -3
topic
INDUSTRY
ACCORDING TO J.L NEHRU INDUSTRIES ARE TEMPLES OF MODERN INDIA
1ST INDUSTRIAL POLICY
THIS WAS FORMED IN 1948
IN THIS POLICY THE INDUSTRIES ARE OF THREE TYPES
EXCLUSIVLY FOR PRIVATE SECTOR
INDUTRIES OF BASIC IMPORTANCE which need to be regulated by government these contain eighteen industries
MIXED SECTOR this sector contains seven industries such as iron and steel, ship building, mineral oils etc.
EXCLUSIVLY MONOPOLY OF STATE this type contains three industries as railways, ammunitions, atomic energy
SECOND INDUSTRIAL POLICY
THIS WAS FOUNDED IN 1956
THREE SHECDULE OF INDUSTRIES
SCHEDULE A EXCLUSIVLY DOMAIN OF PUBLIC SECTOR THIS SECTOR CONTAIN SEVENTEEN INDUSTRIES AS DEFENSE IRON & STEEL RAILWAYS TRANSPORT SHIPBUILDING ETC.
SCHDULE B THIS SCHDULE INDUSTRIES ARE INTERMEDIATE OF PRIVATE AND PUBLIC SECTOR THIS CONTAINS 12 INDUSTRIES AS ROAD SEA TRANSPORT
SCHDULE C ALL OTHER INDUSTRIES OF PRIVATE SECTOR
NEW INDUSTRIAL POLICY
1. a)DISINVESTMENT : of certain part of equity to private sector, mutual funds, financial institutions and worker b)DE RESERVATION no. of industries reserved for public sector reduced 17 to 6 c)expanding the concept of the MOUs the professionalisation of board d)Reference to BIFR OF SICK PSUs
2. DE-REGULATION a) Threshold limit of assets abolished. MRTP commission given more powers to identify and regulate monopolies on a case to case basis b) relaxation in location clauses for industries except for those in cities with population < 1 million c) Convertibility clause abolished which required certain portion of loan taken by an industry being converted into equity of that financial institute from which it has taken a loan d) Delicensing only 18 industries having hazardous chemicals strategic and environment concerns required license now
Economics
