Liberalisation of the economy, Microeconomics

Liberalisation of the Economy:

Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic concerns, social reasons, hazardous chemicals and over-riding environmental reasons and items of elitist consumption industries reserved for the small scale sector which were to continue under the reservation list. Subsequently, all industries except for a small group of five industries, industrial licensing requirements have been done away with. 

Dereservation of SSI Items: Although initially the Government decided to continue reservation of items under the SSI sector, but later, it gradually withdrew reservation in several SSI items every year. For instance, in 2003-04 budget, the Union Finance Minister announced dereservation of 75 items of laboratory chemicals, leather and leather products, plastic products, chemicals and chemical products and paper products. During 2005-06 budget, the Finance Minister announced dereservation of 108 items from the SSI list, out which 30 items belonged to the category of "textile products, including hosiery". Earlier the Government had announced dereservation of ready-made garments. In other words, even the small-scale industry (SSI) has been forced to face both domestic and international competition.

 

Posted Date: 11/15/2012 2:14:53 AM | Location : United States







Related Discussions:- Liberalisation of the economy, Assignment Help, Ask Question on Liberalisation of the economy, Get Answer, Expert's Help, Liberalisation of the economy Discussions

Write discussion on Liberalisation of the economy
Your posts are moderated
Related Questions

explain the properties of indifference curve with the help of diagrams?

National Budget: A National Budget is a document showing estimates of expected government revenue and intended expenditure for the coming financial year. It usually consist of


how does utility figure in the analysis of consumer demand


Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways.  •  It provides flow of technology which al

what are the advantages of monopsony?

The average price level has increased at a relatively rapid rate since 2008 even though the deep recession that UK experienced in 2008/09. The growth in the price level has been dr

Marginal utility   - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u