Impact of government legislations on business, economics, Microeconomics

Assignment Help:
Impact of government legislations on business in india
Government in India plays a dominant role in the Indian business activity. It directs and regulates the private business and industry through various measures. These measures have been formulated as per the guidelines laid down in the Constitution of India (section 10.3). The regulatory policies and development plans pursued. in India fall into the following main categories.

- Assisting, encouraging, and directing private sector;
- Providing infrastructural facilities;
- Controlling private activity;
- Promoting public and joint sectors; and
- Formulating a planned framework for the development and stabilisation of the economy.
In a mixed economy like India the private and the public sectors operate in coordination with each other. The public sector is organised and managed along the socialist pattern. It provides the infrastructural facilities like transport, finance and banking for the development of the private business. The promotion, control and management of this sector is the exclusive responsibility of the government. A large part of the economy in India comprises the private sector that is allowed to function freely under the regulation of the government. Besides encouraging the private sector, Government of India controls the private sector through following policies.

- Industrial and licensing policies,
- Control and regulation of monopolies.
- Fiscal policy,
- Commercial policy,
- Price policy,
- Employment policy,
- Monetary policy,
- Export-import policy,
- Environment policy, and
- Foreign exchange policy.
All these measures interfere with the market mechanism so as to remove distortions in the system and to achieve the broader goals of rapid economic growth, expansion of employment opportunities, equity, and self-reliance. We will briefly discuss those policies that have a major influence on the managerial decisions.

Related Discussions:- Impact of government legislations on business, economics

Demand and supply, what will be the effect on price and quantity when suppl...

what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?

What is free trade agreements, Q. What is Free Trade Agreements? Free T...

Q. What is Free Trade Agreements? Free Trade Agreements:It is an agreement between two or more countriesthat eliminates tariffs on trade between the countries, reduces non-tari

Sales revenue maximization model , What are the major differences between t...

What are the major differences between the equilibrium of profit maximiser and sales revenue maximiser?

Answer paper, What is the theory of Second Best? Prove the theorem with the...

What is the theory of Second Best? Prove the theorem with the help of a diagram.

Effect of gasoline tax with rebate, Effect of Gasoline Tax with Rebate ...

Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1

Explain three major barriers of developing contries, Explain three major ba...

Explain three major barriers to development experienced by developing countries. Well, the scope of possible answers here is, em, wide, to say the least. The issue is not to si

Graph & calulations, Not sure how to graph & calculate a retail price of $3...

Not sure how to graph & calculate a retail price of $30 & avg cost $20 assuming that the equation for demand is Q=10,000-9,000P, where P=retail price & Q=# sold per month.Then to s

Capital intensive operations, Where minimum efficient scale is very huge fo...

Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of

Compute marginal cost and average total cost, 1.  What is the relationship ...

1.  What is the relationship between a firm's total revenue, profit and total cost? Give an example of hypothetical data and draw the curves. 2.  Define economies of scale and e

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd