Introduction
Industrialization and industrial development is one of the main part of any nation's economical development. The development of industrial sector depends on the development of agriculture sector and service sector of country.
If the Industrial sector of any country is increasing then the country will develop instantly and unemployment will be reduced due to active industrial sector. Because, a large number of people will be involved in it.
The share of Industrial Sector in the GDP of India is 25.8% in 2008-09 while it was only 15.1% in 1950-51. We are considered manufacturing, mining, construction, electricity and Gas, Water Supply etc. under the industrial sector.
Different plans in India from 1951 to till date
The industrial development of India was mainly involved in Consumer's goods industry at the time of starting the first years plan (1951-1956), in which cotton cloth, sugar, salt, soap, paper industry were the main industry.
First Five Year Plan (1951-56):- The first five years plant was not related to industrial development. The total budget of first five year plan was Rs 960 crore but only Rs 55 crore i.e 2.8% of total budget was allocated to industrial sector. In this time , Govt. of India was trying to boost up both Public and private sector through this plans. Thus, Combined Economy was started in India i.e India have combined economy.
Second Five Year Plan (1956-61):- It was almost focused on the Industrial development. The purpose of this plan was the development of basic industry for certain development of India. The total budget of this plan was 4072 crore rupees in which 938 crore rupees was allocated to industrial sector.
Three nos of steel plants Bhilai, Rourkela and Durgapur were started through second five year plan in public sector.
Third Five Year plan (1961-66):- This plan was also focused on the development of industrial sector. Approx 20% of total budget were allocated to Industrial sector.
Sixth Five Year Plan (1980-85) :- The total budget of this plan was Rs 109292 crore in which Rs 15002 crore were allocated to Industrial sector. There was many changes in Industrial policy and Started the process of liberalization.
Seventh Five Year Plan (1988-93) :- The total budget of this plan was Rs 218730 crore in which Rs 25975 crore were allocated to Industrial sector. The rate of industrial development was recorded 8.5% in Seventh five year plan.
Eleventh five year plan (2007-12) : The total budget of this plan was Rs 3644718 crore in which Rs 153600 crore were allocated to industrial sector. The target in industrial sector was 10% in this plan.
Twelfth Five year plan (2012-17): This was the last five year plan of India. Indian Govt abolished the five year plan in 2015 and started Niti Aayog instead of it.
Indian Industrial Policy
The Industrial policy of country represents work plan of Industrial development of country. Industrial policy is also called the Economic Constitution of Country. The Govt. of India announced its industrial policy several time after the Independence .
Industrial Policy of India 1948 AD:- The first Industry and Corporate minister, Dr. Shyama Prasad Mukherjee proposed Industrial policy 1948 in the Parliament on 06 April 1948 AD. The focus on the Combined system of Indian Economy and force on both public and private sector in this Industrial policy. Large types of Industry was divided in four parts:-
The three important industries were kept in first part---------(1) Arms Industry (II) Production and Control on the Nuclear Power (iii) Railway
The Six basic industries were classified in second part (i) Coal (ii) Iron and steel (iii) Aeroplane (iv) Shipping (v) Telecommunication (vi) Mineral Oil Industry
The eighteen industries were classified in third part (i) Sugar (ii) Cloth (iii) paper (iv) Salt (v) Machinery tools etc.
Rest Industries were classified in fourth part. After this Indian Industrial policy 1956 was implemented by Govt of India, in which all industry were classified in three types. Govt of India was also implemented this policy in 1977 and 1980 AD.
Small Industry Development Organisation :- This organisation is under the Central Industry Ministry and the development Commissioner is the chief of this organisation . This organisation was formed in 1954 AD.
National Small Industry Corporation : It is a central agencies which was established on 1955 AD.
District Rural Development Agencies (DRDA):- it is a centre supported scheme, which is implemented from 01 April 1999. Boost up the rural development of India is the purpose of this scheme. The financial ration of centre and state in DRDA is 75:25.
District Industries Centre :- This organisation was set up in 1978 AD.
Meera Seth Committee:- This Committee was related to Handloom Industry. This Committee handed over the its report to Govt on 21 January 1997 in which it was recommended that National Handloom Loan Federation may be formed with the cost of Rs 500 Crore.
Small Industries Development Bank of India(SIDBI):- This organisation was came in to existence
in 02 April 1990. Its headquarter is in Lucknow.
Public Enterprises in India
The Enterprises which ownership have either Centre or State, however they are constraint or not is known as Public Enterprises.Many public Enterprises are classified in Navaratna and Maharatna Category.
There are total 16 Navratna Companies in India at present. The list of Navratna Companies is given below:-
1. Bharat Heavy Electrical Limited (BHEL)
2. Bharat Electronics Limited (BEL)
3. Oil India Limited (OIL)
4. Bharat Petroleum Corporation Limited (BPCL)
5. Hindustan Aeronautics Limited (HAL)
6. Bharat Gas Authority Ltd (GAIL)
7.Mahanagar Telephone Nigam Ltd(MTNL)
8. Hindustan petroleum Corporation Ltd (HPCL)
9. Power Finance Corporation Ltd (PFC)
10 National Metalic Development Corporation Limited (NMDC)
11 National Aluminium Company Limited (NALCO)
12 Rastriya Steel Nigam Limited (RINL)
13. Shipping corporation of India Limited (SCIL)
14 Power Grid Corporation of India Limited (PGCIL)
15 Rural Electrification Corporation Limited (RECL)
16 Neveli Lignite Corporation of India Ltd
There are following Five Maharatna Companies in India.
1. National Thermal Power Corporation (NTPC)
2. Oil and Natural Gas Corporation (ONGC)
3. Indian Oil Corporation (IOC)
4. Steel Authority of India Limited (SAIL)
5. Coal India Limited (CIL)
Foreign Direct Investment (FDI) :- Foreign Companies may invest its finance, machinery plants, land etc in the Indian Companies through Foreign Direct Investment Policy. The Govt of India has allowed to invest as per FDI in different sector.
Limitation of FDI
1. Advertisement 26%
2. Real State 100%
3. Durdarshan Channel 100%
4. Medicine 100%
5. Stock market 100%
6. FM Radio 20%
7. Insurance 26%
8. Defence 26%
9. Commercial Bank 49%
10 Telecommunication 74%
11 Satellite 74%
12 Cable Networking 49%
13. Air Transport 49%
14 Private Banking Sector 74%
15 Electronic Media 26%
16. Petroleum Refining 26%
17 Science and Technology Magazine 100%
Summary
- The second five year plan was dedicated to Industrial Development of India.
- The Steel plant of Bhilai, Durgapur and Rourkela was set up in Second Five Year Plan.
- The first Industrial Policy of India was implemented on 1948 AD.
- The Public Enterprises Policy was came into the existance through Industrial Policy 1956.
- The Small Industries Development Organisation (SIDO) was formed in 1954 AD.
- The Small Industries Development Bank of India (SIDBI) was formed in 02 April 1990.
- Lucknow is the Headquarter of SIDBI.
- Meera Seth Commission was related to Handloom Industry.
- National Small Industries Corporation (NSIC) was set up on 1955 AD.
- Indian Technical Institute is located in Guwahati.
- National small industry training institute is located in Hyderabad.
- There are 16 Navratna Companies in India.
- There are 05 Maharatna Companies in India.
- Neveli Lignite Corporation India Ltd get the reward of Navratna company in 2011.
- Coal Inida Ltd got the reward of Maharatna in 2011.
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