30 Questions
What type of enterprises did IDRA encourage?
Small businesses
How many workers were required for a premises to be considered a factory under IDRA?
50 workers with power or 100 workers without power
Which type of industries were exempt from licensing under IDRA?
Industries not in Schedule I
What did IDRA have the power to regulate in private sector industry?
Distribution and prices of products
Under what circumstances could the government take over private firms' management according to IDRA?
To achieve regional balance in industrial development
What did the registration and licensing provisions of IDRA apply to?
'Industrial undertakings' in scheduled industries meeting factory criteria
Why does the text emphasize the importance of heavy industries?
To boost economic independence
According to Mahalanobis in 1955, what is a key aim related to heavy industries?
Achieving independence from foreign producer goods
What was T.T.Krishnamachari's approach towards importing goods?
Import anything and everything produced in India
What percentage of total imports were consumer goods during the I and II FYP?
32% and 23%
Which minister, despite having no political clout, supported T.T.Krishnamachari's approach to importing goods?
C.D.Deshmukh
How did M. Mahalanobis justify the need to develop heavy industries?
To support capital accumulation by reducing dependency on foreign producer goods
What was required of all industrial undertakings in the scheduled industries?
To register with the central government
What did a license issued by the central government specify?
The maximum quantity of the product and its location of production
What could exempt certain industrial undertakings from some provisions of the act?
Size based on investment
When did the small-scale industries (SSI) reservation appear?
In 1967
Under what circumstances could the central government assume direct management or control of industrial undertakings?
Under certain circumstances
What authority did the central government have over prices and distribution in specified industries?
Control over both prices and distribution
What was the primary focus of the Indian government in terms of foreign capital investment?
Promoting mutually advantageous terms and conditions for foreign capital investment
In what year was the Indian Investment Center established to provide information and advice to foreign investors?
1961
Which industry was NOT among the profitable industries that welcomed foreign investment in India post-1961?
Pharmaceuticals
What type of investment did Western multinationals show more interest in during the early 1950s in India?
Oil refineries
What were the 3 key elements of the restrictive industrial policy regime implemented in India?
Public sector development, heavy regulation through licensing, and dominant private sector role
Which statement best describes the Indian government's stance on local majority ownership in industries?
The government welcomed local majority ownership but did not require it.
What was the primary purpose of issuing licenses liberally for the chemical and engineering industries during the 1950s?
To encourage diversification in these industries.
Why was the cotton textiles industry subjected to stricter licensing policies compared to other industries?
Because it was a more developed industry at that time.
Which entrepreneurial base did the government aim to broaden through the issuance of licenses?
Entrepreneurs in newly emerging industries.
What was the significance of Kilachands and Nanu Bhai Jewelers in the context of setting up basic chemical capacity in nylon and synthetic rubber?
They were large established Indian business houses.
How did the government encourage competition through the licensing process?
By allowing large business houses and foreign firms to compete for licenses.
What were the three primary objectives of distribution and price controls mentioned in the text?
Ensuring fair allocation, encouraging equity, and stabilizing prices.
This quiz delves into the justification for emphasizing heavy industries for economic independence, as discussed by Mahalanobis in 1955. It explores heavy industries' impact on employment and their role in building a sound economy. Dive into this quiz to understand the significance of heavy industries in achieving economic self-reliance.
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