CURRENT AFFAIRS

Detailed explanation-1: -The proposed new industrial policy, which will replace the industrial policy of 1991, seeks to achieve One Nation-One Standard, promote startups in every district, create startup innovation zones at the level of urban local bodies, and incentivise Indian speciality products by creating premium international brands.

Detailed explanation-2: -The Government of India announced its new industrial policy 1991 on July 24, 1991, with the goal of correcting the distortions and weaknesses in the country’s industrial structure that had developed over four decades, raising industrial efficiency to international levels, and accelerating industrial growth.

Detailed explanation-3: -The Industrial Policy Resolution 2022 has been formulated to create a conducive environment through an enabling Policy and regulatory framework to drive sustainable industrial growth in the State. The State is committed to simplify the processes and procedures and expedite project approvals and clearances.

Detailed explanation-4: -The New Industrial Policy, 1991 had the main objective of providing facilities to market forces and to increase efficiency.