BBA 1st Year Business Environment Industrial Policy Very Short Question Answer : BBA Previous Year Important Very Short Questions With Answers New Syllabus.
Section-A (Very Shod Answer Questions) Unit 3
Q. 1. Define industrial policy.
Ans. Industrial policy means and includes all the rules and procedures announced by government to regulate and control the industries of a country.
Q.2. When was the first industrial policy presented?
Ans. The first industrial policy was presented on April 6th, 48.
Q. 3. When was the second industrial policy presented?
Ans. The second industrial policy was presented on April 30th, 1956.
Q. 4. Which statement was presented as a supplement to industrial policy 1956 and on which date?
Ans. Industrial policy statement, February 2nd, 1973.
Q. 5. When was fifth industrial policy presented and under which government?
Ans. July 23rd, 1980 under the rule of congress (I).
Q. 6. When and under which government the fourth Indust rial policy was presented?
Ans. December 23rd, 1977 under rule of Janta Party.
Q. 7. When was sixth industrial policy presented?
Ans. July 24th, 1991.
Q. 8. Define licensing policy.
Ans. Licensing policy means a policy of government to grant ermission for the establishment and expansion of industrial unit.
Q. 9. What is IDRA Act? When was it established?
Ans. IDRA act is Industries Development and Regulation Act, 1951. A bill was presented in parliament in March, 1949, passed on October, 1951, as Industries Development and Regulation Act 1951.
Q. 10. What is the meaning of private sector?
Ans. Privatisation is the general process of involving the pnvate sector in the ownership or operations of a state owned enterprise.
Q. 11. What are the main types of privatisation?
Ans. (a) The neasures which transfer ownership of public enterprises, fully or partially to private sector.
(b) Leasing or restructuring.
(c) Injecting the spirit of commercialisation in public sector units.
Q. 12. Give any five merits of private sector.
(a) Incentive for greater efficiency and hard work.
(b) Efficient utilization of resources.
(C) minimum cost of production.
(d) Higher capital formation.
(e) Free rand fair competition.
Q. 13. What is cold privatisation?
Ans. In case the PSUs are required to relate their activities to market Conditions PSUs are distinguish from the though the Ownership Continues to be with the government
Q. 14. Write the main methods of privatisation.
Ans. (a) Franchising.
Q. 15. What are the four forms of privatisation?
Ans. (a) Managerial privatisation.
Q. 16. Discuss a tw’. raatages of privatisation.
Ans. (a) Private Sectors Concentration of wealth and income in the hands of few persons.
(b) Due to private sectors class struggle becomes a very common incident dividing the society tn the nch and poor.
(c) Social welfare is not being taken seriously by three private sectors because only those goods and se-r a’e produced which provide higher profit