Class 8 Exam > Class 8 Questions > The government often provides incentives like...
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The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.
- a)Urban
- b)Backward
- c)Coastal
- d)Metropolitan
Correct answer is option 'B'. Can you explain this answer?
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The government often provides incentives like subsidized power and low...
Understanding Government Incentives in Backward Areas
The government plays a crucial role in promoting industrial growth, especially in regions that are economically lagging. The provision of incentives like subsidized power and lower transport costs is often targeted towards backward areas for several reasons.
1. Economic Development
- Backward areas typically lack adequate infrastructure, making it difficult for industries to thrive.
- By providing incentives, the government aims to stimulate investment and foster economic growth in these regions.
2. Job Creation
- Industries in backward areas can generate employment opportunities for local residents.
- This helps reduce poverty and improve the standard of living in these communities.
3. Balanced Regional Development
- The government seeks to reduce regional disparities by encouraging industries to set up in less developed areas.
- This promotes a more equitable distribution of economic benefits across the country.
4. Utilization of Local Resources
- Many backward areas are rich in natural resources but lack proper industry to process them.
- Incentives encourage industries to utilize these local resources, contributing to sustainable development.
5. Infrastructure Improvement
- As industries set up in these areas, it often leads to improved infrastructure, such as better roads and power supply.
- This not only benefits the industries but also enhances the quality of life for local residents.
In summary, the government's strategy of providing incentives to industries in backward areas is aimed at fostering economic growth, creating jobs, and promoting balanced regional development, ultimately leading to a more prosperous nation.
The government plays a crucial role in promoting industrial growth, especially in regions that are economically lagging. The provision of incentives like subsidized power and lower transport costs is often targeted towards backward areas for several reasons.
1. Economic Development
- Backward areas typically lack adequate infrastructure, making it difficult for industries to thrive.
- By providing incentives, the government aims to stimulate investment and foster economic growth in these regions.
2. Job Creation
- Industries in backward areas can generate employment opportunities for local residents.
- This helps reduce poverty and improve the standard of living in these communities.
3. Balanced Regional Development
- The government seeks to reduce regional disparities by encouraging industries to set up in less developed areas.
- This promotes a more equitable distribution of economic benefits across the country.
4. Utilization of Local Resources
- Many backward areas are rich in natural resources but lack proper industry to process them.
- Incentives encourage industries to utilize these local resources, contributing to sustainable development.
5. Infrastructure Improvement
- As industries set up in these areas, it often leads to improved infrastructure, such as better roads and power supply.
- This not only benefits the industries but also enhances the quality of life for local residents.
In summary, the government's strategy of providing incentives to industries in backward areas is aimed at fostering economic growth, creating jobs, and promoting balanced regional development, ultimately leading to a more prosperous nation.
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The government often provides incentives like subsidized power and low...
The government provides incentives to industries in backward areas to promote industrialization and economic growth in less developed regions.
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The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer?
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The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer?.
The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The government often provides incentives like subsidized power and lower transport costs to industries in _____ areas.a)Urbanb)Backwardc)Coastald)MetropolitanCorrect answer is option 'B'. Can you explain this answer?.
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