Consider the following about Industries Development and Regulation Act 1951 IDRA The Act establishes...........

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Consider the following about Industries (Development and Regulation) Act, 1951 (IDRA).

The Act establishes a 'Central Advisory Council' for the purpose of advising the Central Government on matters concerning the development of the industries.
The Act is administered by the Ministry of Commerce through its Department of Industrial Policy & Promotion (DIPP).
The IDRA empowers the Central Government to regulate the development of industries by means of licensing with suitable exemptions as decided by the Government.

Select the correct answer using the codes below

1 only

2 and 3 only

3 only

1, 2 and 3

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Explanation:

IDRA was enacted in pursuance of the Industrial Policy Resolution, 1948. The Act was formulated for the purpose of development and regulation of industries in India by the Central Government. The main objectives of the Act is to empower the Government: -

to take necessary steps for the development of industries;
to regulate the pattern and direction of industrial development;
to control the activities, performance and results of industrial undertakings in the public interest.

The Act applies to the 'Scheduled Industries' listed in the First Schedule of the Act. However, small scale industrial undertakings and ancillary units are exempted from the provisions of this Act.