Unformatted text preview: g smallscale, village, and cottage industries,
9. Achieving balanced economic development,
10. Participation of workers in management, and Industrial Policy 1973
Industrial Policy 1973 An industrial policy statement was made in a press note on February 2, 1973. The main features of Industrial Policy Statement of 1973 were as follows:
The state would be directly responsible for the future development of industries.
2. The role of public sector was further stressed in attaining a sotic pattern of society.
3. As an initiative towards the development of joint sector units, they were supposed to function under the direction of the government.
4. Foreign investment was allowed only in specific industries.
5. Smallscale and cooperative sectors were assigned a special role to play. Small and medium sectors were given preferential treatment.
6. In the area of agricultural produce, cooperative enterprises were encouraged.
1. Industrial Policy 1977
Industrial Policy 1977 ► The Janata Party came to power in March 1977. The Janata Party government presented to Parliament an industrial policy on December 23, 1977. The major objectives set in the policy were as follows:
1. Preventing of monopoly and concentration of economic power,
2. Maximising production of consumer goods, and
3. Making industry responsive to social needs. ► The basic elements of the Janata government’s industrial policy were as follows:
1. Development of smallscale industries, cottage industries, tiny sector units, village and household industries,
2. Encouraging the largescale industrial units for meeting the minimum needs of the population,
3. Reversing the process of growth of large industries which grew with the help of funds from public financial institutions,
4. Public sector was to be used as a producer and supplier of essential consumer goods,
5. Import of technology only in highpriority areas, and
6. Restricted foreign collaboration—the ownership and control were to remain in Indian hands. Industrial Policy 1980
Industrial Policy 1980 The Congress came to power again in 1980. The Union Minister of State announced the new industrial policy on July 23, 1980. The socioeconomic objectives of the 1980 Industrial Policy were as given below:
1. Optimum utilisation of the installed capacity,
2. Higher employment generation,
3. Achieving higher productivity and maximum production,
4. Development of industrially backward areas,
5. Promotion of agrobased export oriented industries,
6. Faster promotion of exportoriented and importsubstitution industries,
7. Consumer protection against high prices and bad quality,
8. Promoting economic federalism with spread of investment in rural as well as urban areas, and
9. Revival of the economy by overcoming infrastructural gaps. The following policy measures were specified The following policy measures were specified to achieve these objectives
1.Promoting the process of rural industrialization, 2. Removing regional imbalan...
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