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The 1956 policy continued to constitute the basic economic policy for a long time. This fact has been confirmed in all the Five-Year Plans of India. According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery.
A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of industrial policy. [6] Industrial policies are interventionist measures typical of mixed economy countries. Many types of industrial policies contain common elements with other types of interventionist practices such as trade ...
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.
The Bombay Plan is the name commonly given to a World War II-era set of Import substitution industrialization-based proposals for the development of the post-independence economy of India. The plan, published in 1944/1945 by eight leading Indian industrialists, proposed state intervention in the economic development of the nation after ...
The economic policy of the Indira Gandhi premiership was characterized by moderate tax increases on higher income Indians, bank nationalisation, and the green revolution. Gandhi presided over three Five-Year Plans as Prime Minister, two of which succeeded in meeting the targeted growth.
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
This department was established in the year 1995, and in the year 2000 Department of Industrial Development was merged with it. This department is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector , keeping in view the national priorities and socio-economic objectives.
After independence and until the early 1990s, socialism shaped some economic and social policies of the Indian government, although they mostly followed the principles of dirigisme. [ 1 ] [ 2 ] After this period, India moved towards a more market-based economy , though, India is officially declared a socialist state as per the constitution .