Question

Write main objectives of IDRA Act, 1951

Answer 1

Dear Simmi,

Following were the objectives of the Industrial development and resolution act (IDRA), 1951.

1. Directing the development of industries according to the prospective plans, under this new industries could not be established without obtaining the licenses.
2. Following the balanced regional growth strategy.
3. Adopting measures to prevent monopoly.
4. Ensuring fair competition between the small scale and large scale industries.