Question

What are the benefits of industrialization and what are the objectives of industrial license?

Answer 1

Benefits of Industrialisation:

1) It leaves an increase in per capita income and provides good to meet high-income demands.

2) It provides increasing avenues for employment of new and skilled labour force.

3) It enables the diversification of the market.

4) It provides infrastructural facilities like railways, power generations etc for further economic development

Objectives of industrial licensing:

1) Optimum utilization of investible resources.

2) To widen and strengthen the industrial base of the economy.

3) To prevent the concentration of economic power.

4) To secure balanced development in the country.