Industrial policy
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The industrial policy announced in 1991 by then Prime Minister Narasimha Rao aimed for liberalization, globalization, and privatization to dismantle excessive regulations and allow more freedom for private firms. It sought to reduce the "license permit control raj" system by saving entrepreneurs from bureaucratic harassment when starting businesses. The main purpose of liberalization was to free large private corporations from bureaucratic control as the MRTP limits had become irrelevant for big businesses in sectors like petrochemicals and electronics. However, industrial licensing remained compulsory for certain industries like coal, petroleum, alcohol, sugar and explosives.
Industrial policy
- 1. Industrial policy Arya.S.Babu
- 2. Industrial policy Main aims Liberalization Globalization Privatization. it was announced by narasimha rao former prime minister(1991).
- 3. Liberalization Means, dismantle the excessive framework, allow freedom to the firms. later a new system came- license permit control raj Aim-to save new entrepreneur the unnecessary harassment of seeking permission from the bureaucracy to start an undertaking.
- 4. Main purpose of l iberalization, free a large private corporate sector from bureaucratic control and MRTP limit had become irrelevant 4 big business(petrochemical,electronics.)
- 5. Industrial licensing is compulsory 4 Coal &lignite. Petroleum Distillation & brewing of alcohol drinks. Sugar Animal fat & oil Industrial explosive