Which of the following is are correct regarding Industrial Policy in context of India 1 Industrial ...........

Economic and Social Issues industrial and labour policy

Which of the following is/are correct regarding Industrial Policy in context of India?

1. Industrial policy means the procedures, principles, policies, rules and regulations which control the industrial undertaking of the country and pattern of industrialization.

2. The industrial policy in the pre-reform period i.e. before 1991 put greater emphasis on the private sector intervention in the field of industrial development.

3. During late 70’s and 80’s, Government initiated liberalization measures in the industrial policy framework.

4. The drastic liberalization measures were carried out by India in 1991.

1,2 & 3

2,3 & 4

1,3 & 4

1,2,3 & 4

None of the options given above

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Explanation:

The industrial policy in the pre-reform period i.e. before 1991 put greater emphasis on the state intervention and not the private intervention in the field of industrial development.India has had 8 industrial policies since independence. Industrial policy of 1948 - It decided the model of the economic system of India i.e. mixed economy. It also put industries under Central and State List such as coal, power, railways were in Central List and paper, medicines, cycles were in State List.