(a) the major policy decisions taken by the Government since the
inception of the structural reforms;
(b) what are the objectives of these policy decisions; and
(c) how these policies have so far benefited the industrial sector,
especially medium and Small Scale Industries?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) & (b): The economic reforms are initiatives focussed primarily at
improving the policy environment. The Government have initiated major
economic reforms since 1991 in industrial policy, exchange rate
policies, foreign investment policy, taxation, infrastructure and
the financial sector. The reforms are a continuing process aimed at
faster growth with employment and equity.
(c):The liberalised policies did not have any adverse effect on
small and medium size industries. Reforms in the Small Scale
Industry(SSI) sector led to high growth in number of SSI units,
output, employment and exports. The total number of SSI units
have increased from 20.82 lakh in 1991-92 to 31.21 lakh in 1998-99.
Over the period, output produced by the SSI sector increased to
Rs.5,27,515 crore from Rs.1,78,699 crore, total employment to
Rs.171.6 lakh from Rs.129.8 lakh and exports to Rs.49,481 crore
from Rs.13,883 crore.