What is new Small Enterprise Policy 1991?

What is new Small Enterprise Policy 1991?

The main thrust of New Small Enterprise Policy is to impart more vitality and growth impetus to the sector to enable it to contribute its mite fully to the economy, particularly in terms of growth of output, employment and exports. …

What are the salient features of Small Scale Industrial Policy of 1991?

The main features of Industrial Policy 1991 were – (1) public sector de-reservation, (2) industrial licensing abolished, (3) disinvestment in the public sector, (4) allowing foreign capital investment, etc.

What was the result of new industrial policy 1991?

Positive outcomes of the new industrial policy 1991 It ended the policy of license, permit and quota Raj. The role of public sector industries in the economy was reduced which reduced the burden on the government. The removal of MRTP companies brought increased foreign investment in the private sector industries.

What are the small scale industrial policy?

The main thrust of the new industrial policy will be on effective promotion of cottage and small-scale industries widely dispersed in rural areas and small towns. It is the policy of the Government that whatever can be produced by small and cottage industries must only be so produced.”

What are the features of New economic policy of 1991?

The main characteristics of new Economic Policy 1991 are:

• Delicencing.
• Entry to Private Sector.
• Disinvestment.
• Liberalisation of Foreign Policy.
• Liberalisation in Technical Area.
• Setting up of Foreign Investment Promotion Board (FIPB).
• Setting up of Small Scale Industries.

What is the new industrial policy?

With the New Industrial Policy’ 1991, the Indian Government intended to integrate the country’s economy with the world economy, improving the efficiency and productivity of the public sector. To accomplish this objective, existing government regulations and restrictions on industry were removed.

What is the result of new Industrial Policy which abolished the license system?

Liberalization is the result of the New Industrial Policy which abolished the ‘License System’.

What is new Industrial Policy?

New Industrial Policy of the Government: liberalization, deregulation and privatisation. The Industrial Policy specifies the relevant roles of the public, private, joint and co-operative sectors; small, medium and large scale industries. It emphasises the national significances and the financial development strategy.

What is India’s New small enterprise policy?

The Government of India, for the first time, tabled the new small enterprise policy titled ‘Policy Measures for Promoting and Strengthening and Supplementing Small, Tiny and Village Enterprises’ in the Parliament on August 6, 1991.

What are the features of New Economic Policy 1991?

This article provides information about the features of new economic policy 1991! 1. Delicencing. Only six industries were kept under Licencing scheme. 2. Entry to Private Sector. The role of public sector was limited only to four industries; rest all the industries were opened for private sector also.

What are some important observations on the new small enterprise policy?

Let us also briefly reflect on some important observations on the new small enterprise policy these are: 1. The new policy is founded on a proper understanding of the fundamental problems of small-scale sector and the measures proposed by it are well directed to mitigate the various handicaps that, faces this sector.

What are the salient features of the government’s small scale industrial policy?

Some of the salient features of the Government’s Small Scale Industrial Policy of 1991 are stated below: i. A separate package for the promotion of Tiny Enterprises was introduced. This constituted the main thrust of Government’s new policy.