Industrial Policy and Infrastructure Quiz

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Questions and Answers

What is industrial policy (IP) or industrial strategy?

It is a country's official strategic effort to encourage the development and growth of the economy, often focused on the manufacturing sector.

What role does a country's infrastructure play in industrial policy?

The infrastructure, including transportation, telecommunications, and energy industry, is a major enabler of the wider economy and often has a key role in industrial policy.

What are some typical interventionist measures in industrial policies?

Subsidizing export industries and import-substitution-industrialization (ISI) are typical interventionist measures in industrial policies.

How do traditional industrial policies protect certain industries?

Traditional industrial policies protect certain industries by temporarily imposing trade barriers on key sectors, such as manufacturing, through measures like import-substitution-industrialization (ISI). Signup and view all the answers

What are some contemporary measures included in industrial policies?

Contemporary industrial policies include measures such as support for linkages between firms and support for upstream technologies. Signup and view all the answers

What does NITI Aayog aim to catalyze?

Economic development Signup and view all the answers

When was NITI Aayog established?

2015 Signup and view all the answers

Who comprises the NITI Aayog council?

All state Chief Ministers and others Signup and view all the answers

What did NITI Aayog replace?

Planning Commission Signup and view all the answers

What is the focus of NITI Aayog's involvement of State Governments in economic policy-making process?

Bottom-up approach Signup and view all the answers

What is the primary role of the NITI Aayog?

Catalyzing economic development Signup and view all the answers

Which initiative is NOT included in the NITI Aayog's initiatives?

Healthcare reform Signup and view all the answers

Who comprises the NITI Aayog council?

All state Chief Ministers and Lieutenant Governors of all UTs Signup and view all the answers

What model did NITI Aayog follow when it was established?

Top-down model Signup and view all the answers

What is the aim of the NITI Aayog's involvement of State Governments in economic policy-making process?

To foster cooperative federalism Signup and view all the answers

Study Notes

Industrial Policy (IP) and Industrial Strategy

Industrial policy (IP) or industrial strategy refers to a government's efforts to promote economic development and growth through targeted support for specific industries or sectors.

Role of Infrastructure in Industrial Policy

A country's infrastructure plays a crucial role in industrial policy as it provides the necessary foundation for industries to operate efficiently and effectively.

Interventionist Measures in Industrial Policies

Typical interventionist measures in industrial policies include subsidies, tax incentives, tariffs, and trade agreements to promote specific industries or sectors.

Protection of Industries

Traditional industrial policies often aim to protect certain industries by providing support and protection from foreign competition, ensuring their survival and growth.

Contemporary Measures in Industrial Policies

Contemporary measures included in industrial policies include investments in research and development, education and training, and innovation to drive economic growth and competitiveness.

NITI Aayog

NITI Aayog aims to catalyze economic growth and development through collaborative federalism, promoting cooperative federalism, and fostering cooperative development efforts among the Central Government, States, and other stakeholders.
NITI Aayog was established in 2015, replacing the Planning Commission.
The NITI Aayog council comprises the Prime Minister of India as the Chairperson, Union Ministers, Chief Ministers of States, and experts in relevant fields.
NITI Aayog focuses on involving State Governments in the economic policy-making process, ensuring their active participation in decision-making and implementation.
The primary role of NITI Aayog is to provide a platform for cooperative federalism, promoting participatory development and fostering partnerships among stakeholders.
The NITI Aayog's initiatives do not include law and order, as it is a state subject.
The NITI Aayog council comprises the Prime Minister of India as the Chairperson, Union Ministers, Chief Ministers of States, and experts in relevant fields.
NITI Aayog follows a think-tank model, focusing on evidence-based policy making and innovation-driven development.
The aim of NITI Aayog's involvement of State Governments in economic policy-making is to promote cooperative federalism, ensuring active participation and collaboration in decision-making and implementation.

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Description

Test your knowledge on the strategic efforts of a country to encourage economic development, with a focus on the manufacturing sector, and the role of infrastructure as a major enabler of the economy.