Strategy of Industrial Growth 1947-1990
● Importance of Industry
1. Source of implements
2. Promote modernization
3. Increase in national income
4. Infrastructural growth
5. GDP growth
Strategy of Industrial Growth
● Need for public sector in industrial development
1. Lack of capital
2. Low induced investment
3. Growth with Social Justice
4. Development of infrastructure
● industrial policy resolution/revolution (IPR-1956)
According to the industrial policy 1956 government increase the role of public sector in the industrial development of economy the main objective is to prevents the concentration of wealth from few hands.
( dominant role by public sector)
Principal elements of IPR-1956/features
1. Three fold classification of industries
A. Schedule (a) 17 industries (exclusively as public sector) ex- defence equipments, Railways, heavy machinery, atomic energy,electricity ,etc
(complete ownership of public sector)
B. Schedule (b) 12 industries (Private and public) .Dominant role of goverment.
eg- chemical fertilizers,plastic materials,Roadstransports
(policy formation by government)
C. Schedule (c) remaining industries under private sector
2. Industrial licensing
It refers to a written permission from the government for opening or expanding and industrial unit.
1. Lack of capital
2. Low induced investment
3. Growth with Social Justice
4. Development of infrastructure
● industrial policy resolution/revolution (IPR-1956)
According to the industrial policy 1956 government increase the role of public sector in the industrial development of economy the main objective is to prevents the concentration of wealth from few hands.
( dominant role by public sector)
Principal elements of IPR-1956/features
1. Three fold classification of industries
A. Schedule (a) 17 industries (exclusively as public sector) ex- defence equipments, Railways, heavy machinery, atomic energy,electricity ,etc
(complete ownership of public sector)
B. Schedule (b) 12 industries (Private and public) .Dominant role of goverment.
eg- chemical fertilizers,plastic materials,Roadstransports
(policy formation by government)
C. Schedule (c) remaining industries under private sector
2. Industrial licensing
It refers to a written permission from the government for opening or expanding and industrial unit.
3. Industrial concession
The private entrepreneur were offered many types of industrial concession for establishing industry in the backward regions of the country
• tax holiday (rebate)
• subsidies power supply
● Small scale industry
It can be defined as the one whose investment does not exceed 5 Lakh rupees in 1951 Now 5 crore.
You can also read about agriculture related to farmer
● features characteristics of small scale industry(SSI)
1. Labour intensive and Employment friendly
2. SSI is locational friendly/flexibility and therefore equality
3. SSI needs small investment and is therefore equity
● Features of industrial growth during 1950 to 1990
1. Public sector the primary role of industrialisation
2. private sector play the secondary role of Under permit/licensing
3. Focus on import substitution
•Good effect
1. Big push for economic growth 6% annual increase
2. Diversification in industrial sector
3. Growth of large scale industry
4. Growth of small scale industry with employment and equity
•Bad effect
1. Public sector monopoly
2. Low quality of product compared to foreign standards
3. Focus on import substitution
Industrialisation is important for overall growth of a country. Following points highlight the importance of Industry is an economy:
1. Provides employment.
2. Raises national income.
3. Promotes regional balance.
4. Leads to modernisation.
5. Helps to modernise agriculture.
6. Leads to self-sustainable development.
7. High potential for growth.
8. Key to high volume of exports.
9. Growth of civilisation.
10. Change in basic structure of economy
11. source of Employment
12. Imparts Dynamism to Growth Process.
The private entrepreneur were offered many types of industrial concession for establishing industry in the backward regions of the country
• tax holiday (rebate)
• subsidies power supply
● Small scale industry
It can be defined as the one whose investment does not exceed 5 Lakh rupees in 1951 Now 5 crore.
You can also read about agriculture related to farmer
● features characteristics of small scale industry(SSI)
1. Labour intensive and Employment friendly
2. SSI is locational friendly/flexibility and therefore equality
3. SSI needs small investment and is therefore equity
● Features of industrial growth during 1950 to 1990
1. Public sector the primary role of industrialisation
2. private sector play the secondary role of Under permit/licensing
3. Focus on import substitution
• it is a policy of the state in which Import of goods are generally substituted by domestic production
4. Protect from foreign competition
5. Large scale industry was to be developed for building and infrastructural base in the country
6. Small scale industry was to be developed for employment and equity
● Good effect or bad effect of industrial policy
4. Protect from foreign competition
5. Large scale industry was to be developed for building and infrastructural base in the country
6. Small scale industry was to be developed for employment and equity
● Good effect or bad effect of industrial policy
•Good effect
1. Big push for economic growth 6% annual increase
2. Diversification in industrial sector
3. Growth of large scale industry
4. Growth of small scale industry with employment and equity
•Bad effect
1. Public sector monopoly
2. Low quality of product compared to foreign standards
3. Focus on import substitution
INDUSTRY
ROLE OF INDUSTRIAL SECTOR IN INDIA
1. Provides employment.
2. Raises national income.
3. Promotes regional balance.
4. Leads to modernisation.
5. Helps to modernise agriculture.
6. Leads to self-sustainable development.
7. High potential for growth.
8. Key to high volume of exports.
9. Growth of civilisation.
10. Change in basic structure of economy
11. source of Employment
12. Imparts Dynamism to Growth Process.
A growth industry is that sector of an economy which experiences a higher-than-average growth rate as compared to other sectors. ...
Their growth is a result of demand for new products or services offered by companies in the field.
Modes of Industrialization
Different strategies and methods of industrialization have been followed at different times and places with varying degrees of success.
Strategy of industrial growth. Strategy of industrial growth 1947-1990 - Indian economy
Indian economy 2021
1. Industrialization
Strategy of Industrial Growth
Industrialization refers to a transition from rural to urban societies. It involves the shift from small scale agricultural production to manufacturing processes. In general, industrialization provides many advantages such as increased productivity and efficiency in production.
However, these advantages can only be realized if we continue to protect our environment.
Industrial pollution is harmful to both humans and animals. Air pollution, water pollution, noise pollution, and land degradation are just a few examples of how industrialization affects the environment.
Conclusions
Strategy of Industrial Growth
We provide short summary and some exam notes of all subjects and for all classes.this notes is related to class 12th commerce/arts indian economy notes.In our page we learn all classes subjects and different knowledge.our youtube channel also available so you get for information go to channel.now we work on application for all classes and easy way to get notes and pdf of exam idea so you ready to learn from our easy adda.
We provide short summary and some exam notes of all subjects and for all classes.this notes is related to class 12th commerce/arts indian economy notes.In our page we learn all classes subjects and different knowledge.our youtube channel also available so you get for information go to channel.now we work on application for all classes and easy way to get notes and pdf of exam idea so you ready to learn from our easy adda.
