Industrial Policy and Infrastructure Quiz

Study Notes

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.

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

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

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

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 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.