ms-03 mba assignment july dec 2010 Question3

1.      Briefly discuss why the Industrial Policy of 1956 is referred to as the ‘Economic Constitution’ of the country?

Industrial policy 1956:

General Focus

To accelerate the rate of economic growth and to speed up industrialisation and, in particular, to develop heavy industries and machine making industries, to expand the public sector, and to build up a large and growing co-operative sector

•To provide opportunities for gainful employment and improving living standards and working conditions of the people

•To reduce disparities in income and wealth

•To prevent private monopolies and the concentration of economic power in different fields in the hands of small numbers of individuals.

Schedule - A
1.Arms and ammunition and allied items of defence equipments.
2.Atomic energy.
3.Iron and Steel.
4.Heavy castings and forgings of iron and steel.
5.Heavy plant and machinery required for iron and steel production, for mining, for machinery tool manufacture and for such other basic industries as may be specified by the Central Government.
6.Heavy electrical plant including large hydraulic and steam turbines.
7.Coal and lignite.
8.Mineral oils.
Mining of iron ore, manganese ore, crome-ore, gypsum, sulphur, gold and diamond.
10.Mining and processing of copper, lead, zinc, tin, molybdenum and wolfram.
11.Minerals specified in the Schedule to the Atomic Energy (Control of production and Use) Order, 1953.
12.Aircraft.
13.Air transport.
14.Railway transport.
15.Shipbuilding.
16.Telephones and telephones cables, telegraph and wireless apparatus (excluding radio receiving sets).
17.Generation and distribution of electricity.
Schedule - B
1.All other minerals except 'minor minerals' as defined in Section 3 of the Minerals Concession Rules 1949.
2.Aluminium and other non-ferrous metals not included in Schedule A.
3.Machine tools.
4.Ferro-alloys and tool steels.
5.Basic and intermediate products required by chemical industries such as the manufacture of drugs, dye-stuffs and plastics.
6.Antibiotics and other essential drugs.
7.Fertilizers
8.Synthetic rubber.
9.Carbonisation of coal.
10.Chemical pulp.
11.Road transport.
12.Sea transport.