Yearly Development for Support of Entrepreneurship in India
Unit-5
Government Support to Entrepreneurs
Yearly Development for Support of Entrepreneurship in India
|Year |Development |
|1948 |Industrial Policy Resolution Act was made under which small scale industries were made to be suited for better |
| |utilization of local resources and achievement of ‘local self-sufficiency’. |
|1956 |Government decided to initiate measures to build the competitive strength of small and village industries. Also |
| |resolution underlined the role that the SSI sector could play in providing employment opportunities, mobilizing |
| |local skills and capital resources and in the integrating process with large industrial sector. |
|1977 |Industrial Policy Statement, stressed upon wider dispersal of cottage and small industries in the rural areas and|
| |small towns. |
|1980 |Ancillarisation and creation of nucleus plants for the growth of the sector. |
|1990 |Emphasized the steps for enhancing the contribution of the SSI sector in overall exports, employment generation, |
| |and dispersal of industries in rural areas. |
|1991 |Thrust on promotion and strengthening of small, tiny and village industries. |
The highlights of the Small Scale Industries Policy of August 1991 are as follows:
• The investment limit for the tiny sector was raised to Rs. 5 lakhs from Rs. 2 lakhs. This limit has now been raised to Rs. 25 lakhs. • Here after irrespective of their
Government Support to Entrepreneurs
Yearly Development for Support of Entrepreneurship in India
|Year |Development |
|1948 |Industrial Policy Resolution Act was made under which small scale industries were made to be suited for better |
| |utilization of local resources and achievement of ‘local self-sufficiency’. |
|1956 |Government decided to initiate measures to build the competitive strength of small and village industries. Also |
| |resolution underlined the role that the SSI sector could play in providing employment opportunities, mobilizing |
| |local skills and capital resources and in the integrating process with large industrial sector. |
|1977 |Industrial Policy Statement, stressed upon wider dispersal of cottage and small industries in the rural areas and|
| |small towns. |
|1980 |Ancillarisation and creation of nucleus plants for the growth of the sector. |
|1990 |Emphasized the steps for enhancing the contribution of the SSI sector in overall exports, employment generation, |
| |and dispersal of industries in rural areas. |
|1991 |Thrust on promotion and strengthening of small, tiny and village industries. |
The highlights of the Small Scale Industries Policy of August 1991 are as follows:
• The investment limit for the tiny sector was raised to Rs. 5 lakhs from Rs. 2 lakhs. This limit has now been raised to Rs. 25 lakhs. • Here after irrespective of their