Question
Download Solution PDFIn which industrial policy was the investment limit for tiny industry/unit increased to ₹2 lakh?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1980.Key Points
- 1980 Industrial Policy:-
- The industrial policy in which the investment limit for tiny industry/unit was increased to ₹2 lakh is the 1980 industrial policy.
- This policy was introduced with the aim of promoting small-scale industries and providing them with financial assistance.
- The increase in investment limit allowed more entrepreneurs to enter the market and set up their own businesses.
- This policy also introduced measures such as reservation of products, subsidies on raw materials, and priority lending to small-scale industries to further support their growth.
Additional Information
- 1977 industrial policy:-
- It focused on reducing regional disparities and promoting balanced regional development.
- 1991 industrial policy:-
- It introduced economic liberalization and emphasized on privatization, deregulation, and globalization.
- 1956 industrial policy:-
- It was the first policy introduced after India's independence and focused on industrialization through public sector enterprises.
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