IAS (Admin.) IAS Mains GS Paper 3 (Science-Tech, Economy, Environment, & Disaster Management) Indian Economy and Issues-Inclusive Growth and Issues Arising from It Study Material (Page 1 of 1)

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Industrial Policy, 1991

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Introduction

  • The government announced on July 24,1991, a new industrial policy as a part of a wider package of the economic reforms: liberalization, privatization, and globalization programme.
  • It seeks to drastically liberalize the economy and the industry by doing away with industrial licensing except for a few specialized cases, increasing the limit of enquiry participation in industries and redefining the role of public sector.

Objectives of New Industrial Policy

Objectives of New Industrial Policy

Abolition of Industrial Licensing

  • the practice of licensing the industries has been abolished for all industries except for a short list of 18 industries to coal, pet…

… (245 more words) …

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