What is the objectives of Idra 1951?

The Act confers on the Central Government power to make rules for the registration of existing undertakings for regulating he production and development of the industries specified in the schedule attached to the Act The Ac a so provided for the constitution of the Central Advisory Council and Development Council.

What do you mean by Idra?

Insurance Development and Regulatory Authority. IDRA.

What are the main objectives of industrial Development Act 1951?

-The Industries (Development and Regulation) Act, 1951, was enacted to provide for the development and regulation of certain industries. Section 2 of the said Act declares that it is expedient in the public interest that the Union should take under its control the industries specified in the First Schedule to the Act.

What is industrial licensing with regard to the industrial Development and regulation Act 1951?

to control the activities, performance and results of industrial undertakings in the public interest: A system of licensing is introduced under the Act to regulate planning and future development of new undertaking on sound and balance lines and may be deemed expedient in the opinion of the Central Government.

What is industrial licensing system?

Industrial licensing is an authority issued by the government organisation to permit the institution or organisation for starting an industry or to start certain function. Governments can take many different actions to influence the allocation of resources.

What is new industrial policy?

With the New Industrial Policy’ 1991, the Indian Government intended to integrate the country’s economy with the world economy, improving the efficiency and productivity of the public sector. To accomplish this objective, existing government regulations and restrictions on industry were removed.

For what purposes was the government empowered to issue licenses under the industries Act of 1951?

(iii) Planning and Future Development of New Undertakings: A system of licensing is introduced under the Act to regulate planning and future development of new undertaking on sound and balance lines and may be deemed expedient in the opinion of the Central Government.

In which year industrial licensing was introduced in India?

1951
For the organized growth and development of industrial India, Parliament has enacted the Industrial (Development and Regulation) Act, 1951.

When did industrial licensing start in India?

In the New Industrial Policy of 1991; only 17 sectors need license to start industrial operation; which further reduced to just 13. Since the inception of the New Economic Policy in 1991; India opened most of the industries for the private players.

WHO declared First industrial policy of India?

Industrial Policy of 1948. The first industrial policy after independence was announced on 6th April 1948. It was presented by Dr. Shyama Prasad Mukherjee then Industry Minister.

When was Implement of industrial licensing Act?

Under the Industries (Development & Regulation) Act, 1951, an industrial licence is required in respect of the following items of manufacture falling under the list of compulsory licensing (only 5 industries are in the list).