The document outlines India's new industrial policy introduced in 1991. It aimed to liberalize India's economy by removing restrictions on private businesses. Specifically, the key changes included abolishing industrial licensing for most industries, reducing public sector reservations and allowing greater private sector participation, liberalizing foreign investment policies, and abolishing parts of the MRTP Act to reduce red tape. The objectives were to unleash private investment, boost industrialization, and integrate India's economy globally by making it more competitive.
new industrial policy 1991 is about the changes made in the policy in 1991. this policy is devided into two parts 1 is announced on 24 july 1991 which is concernd with the large scale industres including the middle scale and the second part is announced on 6 august 1991 and concerned with small scale sector............
new industrial policy 1991 is about the changes made in the policy in 1991. this policy is devided into two parts 1 is announced on 24 july 1991 which is concernd with the large scale industres including the middle scale and the second part is announced on 6 august 1991 and concerned with small scale sector............
This presentation explains the conditions which led to the introduction of 1991 economic reforms of India, the key features of the reforms and the impact it created on Indian economy.
"Disinvestment Policy of India" presentation Nikhil Gupta
This Presentation will give a brief Idea about the "Disinvestment Policy of India". The presentation gives a brief idea about the Approaches, Objectives, Importance, Criticism, Challanges of the Disinvestment Policy. It will give a brief idea about the amount received by Disinvestment in India. The presentation covers the Union Budget of India 2017.
Industrial Policy Resolution of 1948
Industrial Policy Resolution of 1956
Industrial Policy Resolution of 1973
Industrial Policy Resolution of 1977
Industrial Policy Resolution of 1980
The New Industrial Policy of 1991
This presentation explains the conditions which led to the introduction of 1991 economic reforms of India, the key features of the reforms and the impact it created on Indian economy.
"Disinvestment Policy of India" presentation Nikhil Gupta
This Presentation will give a brief Idea about the "Disinvestment Policy of India". The presentation gives a brief idea about the Approaches, Objectives, Importance, Criticism, Challanges of the Disinvestment Policy. It will give a brief idea about the amount received by Disinvestment in India. The presentation covers the Union Budget of India 2017.
Industrial Policy Resolution of 1948
Industrial Policy Resolution of 1956
Industrial Policy Resolution of 1973
Industrial Policy Resolution of 1977
Industrial Policy Resolution of 1980
The New Industrial Policy of 1991
Industrial policy is a document that sets the tone in implementing, promoting the regulatory roles of the government. It was an effort to expand the industrialization and uplift the economy to its deserved heights. It signified the involvement of the Indian government in the development of the industrial sector.
Introduction
The industrial policy means the procedures, principles, policies rules and regulations which control the industrial undertaking of the country and pattern of industrialization. It explains the approach of Government in context to the development of industrial sector. In India the key objective of the economic policy is to achieve self-reliance in all sectors of the economy and to develop socialistic pattern of society. The industrial policy in the pre-reform period i.e. before1991 put greater emphasis on the state intervention in the field of industrial development. These policies no doubt have resulted into the creation of diversified industrial structure but caused a number of inefficiencies, distortions and rigidities in the system. Thus during late 70’s and 80’s, Government initiated liberalization measures in the industrial policy framework. The drastic liberalization measures were however, carried out in 1991.
Industrial Policies Prior to 1991
Industrial Policy Resolution, 1948
The first important industrial policy statement was made in the Industrial policy Resolution (IPR), 1948. The main thrust of IPR, 1948 was to lay down the foundation of mixed economy whereby the private and public sector was accepted as important components in the development of industrial economy of India. The policy divided the industries into four broad categories:
(i) Industries with Exclusive State Monopoly: It included industries engaged in the activity of atomic energy, railways and arms and ammunition.
(ii) Industries with Government Control: It included the industries of national importance and so needs to be registered. 18 such industries were put under this category eg. fertilizers, heavy chemical, heavy machinery etc.
(iii) Industries in the Mixed Sector: It included the industries where private and public sector were allowed to operate. Government was allowed to review the situation to acquire any existing private undertaking.
(iv)Industries under Private Sector: Industries not covered by above categories fell in this category.
IPR, 1948 gave public sector vast area to operate. Government took the role of catalytic agent of industrial development. The resolution assigned complementary role to small-scale and cottage industries. The foreign capital which was seen with suspect in the pre-independent era was recognized as an important tool to speedup up industrial development
The industrial policy means the procedures, principles,policies rules and regulations which control the industrial undertaking of the country and pattern of industrialization. It explains the approach of Government in context to the development of industrial sector.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
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ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
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NATURE, ORIGIN AND DEVELOPMENT OF INTERNATIONAL LAW.pptxanvithaav
These slides helps the student of international law to understand what is the nature of international law? and how international law was originated and developed?.
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Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
2. What is Industrial Policy?
It refers to the government’s policy towards ;
Establishment
Functioning
Growth
Management of the industries
It is a comprehensive government document that covers all those
policies, rules and regulations that control the industrial
undertakings of the country and shape the pattern of
industrialization.
3. Industrial Policy helpful to
The planners and administrators by providing them
clear guidelines for promoting and regulating industries.
The industrial investors for deciding areas and priorities
of their investment.
4. Birth of Industrial Policy
Due to poor condition of economy
Problem of Industrial sickness
Shortage of raw materials
Deficiency capital
Bad industrial relations
“Industry Policy Resolution” was issued on 6th April 1948
It accepted both private and public sector
This policy was implemented for 8 years
From here the Planning Era started in Indian economy
5. Industry Policy
Resolution
1948
Industry Policy
Resolution
1951
Industry Policy
Resolution
1956
Industry Policy
Resolution
1973
Industrial
Policy
Industry Policy
Resolution
1977
Industry Policy
Resolution
1980
1991
6. Changes with due course of time
Year Objectives
1948 1. Accelerate rate of economic growth
2. To speed up industrialization
1956 1. Assistance to private sector
2. Expanded role of Cottage and Small Industries
3. Balanced industrial growth among various regions
4. Incentives to labour
1980 1. Maximizing production
2. Achieving higher productivity
3. Higher Employment generation
4. Faster promotion of export oriented and import
substitution industries
7. Objectives of Industrial Policy 1991
Maintain a sustain growth in productivity and gainful
employment
Greater investment in R & D
Bringing in new technology to increase international
competitiveness
Incentives for industrialization of backward areas for promoting
balanced regional development
Increasing productivity and efficiency in PSU’s and reduce their
losses
Enhanced support for small scale industrial
To integrate Indian economy with rest of the world
8. Significant changes in areas
Industrial Licensing Role Of Public Sector
Foreign Investment And Technology
The MRTP Act
9. a) Abolition of Industrial Licensing:
Abolishes the system of industrial licensing for most of the industries
No licenses are required for setting up new industrial units or for
substantial expansion
Except for a short list of industries relating to country’s security and
strategic concerns, hazardous industries and industries causing
environmental degradation
Earlier 18 industries were placed in this list of industries
Only 5 industries relating to health security and strategic concerns that
require compulsory licensing
10. b) De-reservation of Industries for Public Sector:
Most public sector enterprises became symbols of inefficiency
Imposed heavy burden on the government through their perpetual losses
Limit the role of public sector
Encourage private sector’s participation over a wider field of industry
Following changes were made in the policy regarding public sector
industries:
Reduced reservation for public sector
Efforts to revive loss making enterprise
Disinvestment in selected public sector industrial units
11. c) Liberalised Policy Towards Foreign Capital and Technology:
Inflow of foreign capital and import of technology was tightly regulated
Each proposal of foreign investment was to be cleared by the
government in advance
Share of foreign equity was kept very low so that majority of ownership
control remains with Indians
Kept the inflow of foreign capital very small and industrial development
suffered for want of capital resources and technology
Several concessions to encourage flow of foreign capital and technology,
which are as follows;
Relaxation in Upper Limit of Foreign Investment
Automatic Permission for Foreign Technology Agreement
12. d) MRTP Act:
MRTP act, 1969, all big companies and large business houses (which had
assets of Rs.100 crores or more) were required to obtain clearance from
the MRTP commission for setting up any new industrial unit
Big impediment for industrial development as the big business firms
which had the resources for development could not grow and diversify
their activities
Put these industries on par with other firms by abolishing those
provisions of the MRTP act which would require no prior approval for
investment
It gives more emphasis on prevention and controlling unfair and
restrictive business practices to protect consumers from such practices
13. Evaluation of Industrial Policy
Aims to unshackle India’s industrial economy from the cobwebs of
unnecessary bureaucratic control
Removal of entry barriers and bringing about transparency in procedures
Virtually ending the ‘Licence-permit Raj’ which has hampered private
initiative and industrial development
New policy throws almost the entire field of industry wide upon for the
private sector
Public sector’s role has been confined largely to industries of defence,
strategic and environmental concerns
More market friendly
Aims at making the best use of available entrepreneurial talent