Industrial Revolution in India Essay

1607 Words Oct 24th, 2012 7 Pages
1566 Words Essay on Industrial Revolution in India

by Dipti

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In any country, be it least developed under developed or advanced, the industrial sectors from the sheet anchor for the generation and development of country’s productive forces. There is a strong case for industrialization of countries like India which has vast manpower, large and varied resources and continental dimensions.

The first plan was not as important as far as industrial development is concerned. Of the total expenditure of Rs. 1,960 crores in the plan the industrial sector received Rs. 55 crores which was 2.8 percent during the second five year plan (1956-61).

Three new plants were set up in the public sector and the capacity of the two existing
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The private sector was given a fair and non­discriminatory treatment in the resolution. It encouraged village and small industries.

The resolution brought out the importance of removing regional disparities in our country. A sufficient attention was paid by the resolution for providing facilities to labourers. Industrial Policy 1970

The government announced a new industrial policy in February 1970. The NIP was in accordance with the recommendation of the Dutta Committee and Administrative Reforms Commission. Following was the basic features of the NIP 70.

(1) This policy provided that there should be a class of core industries consisting of basic, critical and strategic industries in economy.

(2) All new investment prepositions of over Rs. 5 crore shall be deemed to be in the heavy investment sector.

(3) The joint sector concept should be accepted in principle.

(4) The existing policy of reservation for the small sector will be continued.

(5) The exemption limit from licensing provision will be raised to Rs. 1 lakhs.

Industrial Policy of 1980:

The main objectives of 1980 industrial policy were the revival of economy, effective operational management of public sector, promotion of industries in rural areas, removal of regional imbalance, concessions for industries engaged in research and development of optimum utilization of installed capacity.

Industrial Policy 1999 the basic aim of new policy were to

(a) Consolidate the strengths built

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