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Industrial policy (Pre 1991) - Industrial Policies, Business Environment Video Lecture | Business Environment - B Com
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FAQs on Industrial policy (Pre 1991) - Industrial Policies, Business Environment Video Lecture - Business Environment - B Com
| 1. What is industrial policy? |  |
Ans. Industrial policy refers to a set of government measures and interventions aimed at promoting and developing industries within a country. It includes strategies, regulations, and incentives designed to support and guide the growth of specific sectors or industries.
| 2. When was the pre-1991 industrial policy implemented in India? | |
Ans. The pre-1991 industrial policy in India was implemented prior to the economic reforms of 1991. It was in place from the country's independence in 1947 until the early 1990s when India adopted a more liberalized approach towards its economy.
| 3. What were the key features of the pre-1991 industrial policy in India? | |
Ans. The pre-1991 industrial policy in India had several key features. It emphasized the role of the public sector as the leading force in industrial development, imposed strict regulations on private enterprises, advocated for import substitution, and focused on self-reliance.
| 4. How did the pre-1991 industrial policy impact the business environment in India? | |
Ans. The pre-1991 industrial policy in India had both positive and negative impacts on the business environment. While it provided protection and support to domestic industries, it also led to a lack of competition, inefficiency, and limited access to foreign markets. The policy's focus on self-reliance restricted imports and hindered technological advancements.
| 5. Why did India shift its industrial policy in 1991? | |
Ans. India shifted its industrial policy in 1991 due to several factors. The country was facing a severe economic crisis, with high inflation, fiscal deficits, and a balance of payments issue. The government realized the need to open up the economy, attract foreign investment, and integrate with the global market to stimulate economic growth and development. This shift led to significant liberalization and reforms in India's industrial policies.
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Dec 23, 2024 Last updated |
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