Rules and regulations are made by the government to ensure that there is better coordination and planning among the industrial sector.

True

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False

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Solution

The correct option is A True

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Q. 78. The Planning Commission was established in 1950 through a Government resolution to formulate long-term development Plans and to recommend them to the Union Cabinet. In framing its recommendations, the Commission has to act in close understanding and consultation with the ministries of the Central government and the governments of the States. The responsibility for policy decisions and implementation rests with the Central and State governments. Many have regarded and some still regard, that the Indian Plans are modelled on Soviet-type "command" planning. This is true only to the extent that there was considerable emphasis, particularly in the Second and Third Plans, on creation of a heavy industrial base under the auspices of the State. Under the aggressive intellectual leadership of Prof. P.C. Mahalanobis and a few other technical experts of the Commission, this objective was given a pride of place in development planning. Subsequently, as a result of severe difficulties, higher priority was accorded to agriculture. The Industrial policy resolutions of 1948 and 1956 provided the basic framework of industrial development and regulation. The Industrial policy Resolution of 1948 envisaged careful planning and integrated effort and that a progressively increased role will be assumed by the Central and State governments in the process of economic growth and in industrial development in particular, by the public sector within a mixed economy. It demarcated industries between the public and private sectors, providing for exclusive monopoly of the basic and infrastructural industries to the former. The Industrial policy Resolution of 1956 gave priority to development of heavy industries and machine-making industries, expansion of public sector, besides promoting the co-operative sector.
According to the author what were the after effects of industrial policy resolutions of 1948 and 1956?
1. Public sector will play a dominant role.
2. Industrial development will be almost monopolized by public sector undertakings.
3. The resolution provided the necessary guidelines that led to enactments of several rules and regulations.
4. 1948 resolution required the joint action to be taken both by union and state governments for economic and industrial development.

Q. Why is there a need for rules and regulations to ensure protection for consumers?

Q. 77. The Planning Commission was established in 1950 through a Government resolution to formulate long-term development Plans and to recommend them to the Union Cabinet. In framing its recommendations, the Commission has to act in close understanding and consultation with the ministries of the Central government and the governments of the States. The responsibility for policy decisions and implementation rests with the Central and State governments. Many have regarded and some still regard, that the Indian Plans are modelled on Soviet-type "command" planning. This is true only to the extent that there was considerable emphasis, particularly in the Second and Third Plans, on creation of a heavy industrial base under the auspices of the State. Under the aggressive intellectual leadership of Prof. P.C. Mahalanobis and a few other technical experts of the Commission, this objective was given a pride of place in development planning. Subsequently, as a result of severe difficulties, higher priority was accorded to agriculture. The Industrial policy resolutions of 1948 and 1956 provided the basic framework of industrial development and regulation. The Industrial policy Resolution of 1948 envisaged careful planning and integrated effort and that a progressively increased role will be assumed by the Central and State governments in the process of economic growth and in industrial development in particular, by the public sector within a mixed economy. It demarcated industries between the public and private sectors, providing for exclusive monopoly of the basic and infrastructural industries to the former. The Industrial policy Resolution of 1956 gave priority to development of heavy industries and machine-making industries, expansion of public sector, besides promoting the co-operative sector.
According to the passage what were the characteristics of 'command' planning?
1. Union and state governments were expected to take initiatives for creation of industrial infrastructure.
2. Planning for development became the important agenda.

Q. Q4. Which of the following statements are correct?
1. Organized sector covers those enterprises or places of work where the terms of employment are regular.
2. Organized sectors are registered by the government and have to follow its rules and regulations such as the Factories Act and Minimum Wages Act.
3. Workers in the organized sector enjoy security of employment.

Q. Internal environment of a business includes:
(i) Business ethics and moral standards
(ii) Business and managerial policies
(iii) Prospects of business development
(iv) Government rules and regulations
(v) Industrial relations.

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