Tag: industrialisation and urbanisation

The Board for Industrial and Financial Reconstruction (BIFR) was established to identify and rehabilitate sick industrial companies.

Industrial sickness is typically caused by internal factors like mismanagement or external factors like market changes. Strikes and lockouts are labor issues, not inherent causes of long-term industrial sickness.

Industrialization is the process of economic and social change that transforms a society from an agrarian one into an industrial one.

Industrial policies generally aim for multiple goals, including sustainable growth, employment generation, and efficient resource allocation.

Historical data on Indian industrial growth during the planning period (pre-1991) indicates an average annual growth rate of approximately 6.2 percent.

Board for Industrial and Financial Reconstruction (BIFR) became operational on 15th  May, 1987 is an agency set up by the Government of India, in order to tackle the problem of industrial sickness through financial inclusion. 

Industrialisation is the period of social and economic change that transformed human being from an agrarian society into an industrial society, involving the extensive re-organisation of an economy for the purpose of manufacturing. It means development of industries in a country or a region in a large scale.

The value added by the industrial sector in the GDP was about 26% in 2013−14.

This statement is correct that during the planning period, the structure of Indian industry has shifted in favour of basic and capital goods and intermediate sector. Others are wrong because the industrial pattern on the eve of Independence was imbalanced and very few big industrial units in India are sick.

The eleventh five-year plan had targeted 10% p.a. growth in industrial production, however, 7.4% p.a. of growth in industrial production was achieved during the eleventh plan period.