INDUSTRY

1. provided stable employment as compared to agri. sector

2. was given high priority by the planners

3. growth of large scale industries

3.1. needed a massive investment

3.1.1. only the direct participation of public sector could help

3.1.1.1. low inducement of private investors to invest

3.1.1.1.1. Low income= Low demand= limited size of market=low inducement to invest=low investment= low income

3.1.1.2. lack of capital

3.1.1.3. growth with social justice

3.1.2. INDUSTRIAL POLICY RESOLUTION, 1956

3.1.2.1. laid a road map of Second Five year plan

3.1.2.2. principal elements:

3.1.2.2.1. Three-fold classification of Industries

3.1.2.2.2. Industrial Licensing

3.1.2.2.3. Industrial Consessions

4. growth of small scale industries

4.1. importance

4.1.1. SSI is labour intensive and therefore creates employment

4.1.2. SSI shows locational flexibility

4.1.3. needs small investment