After reading this chapter, you will understand the Industries (Development and Regulation) Act, an important piece of economic legislation that laid its imprints on all kinds of economic activities—especially industrial development in the Indian economy prior to 1991. A clear understanding of IDRA is very important to know how it constricted the country's industrial growth and how its replacement with a new economic policy helped accelerate our over all economic growth.

Faster growth of the industrial sector on a sustained basis is a major determinant of a country's overall economic development. With the view to quicken the phase of industrial development, the Government of India has been ...

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