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Directions:(1-10) In the given passage, there are words, each of which has been numbered and bold. Against each four words are suggested, one of which does not fit the blank appropriately. Find out the word in each case. If all the word are correctly used then none of these is your answer.
1.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
2.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
4.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
5.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
6.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
7.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
8.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
9.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
10.The first PM of India had referred the Industries of India as “temples of modern democracy” and it can hardly be refuted today. The industries of India were one of the major entities to conserve the democracy of India, to check the growth (1) of Neo-Imperialism that depleted through the cold war and thereby helped sustain the economy and civil libertarian democracy which was left devastated and exploited at the dawn of independence. The nature of growth of industries has seen transformation with the changing global scenario and domestic conditions traversing (2) from a centralised economy to now a neo-liberal free trade economy. Today, India boasts of 3rd rank in world in GDP in PPP terms even ahead of Japan, a heavily industrialised nation and indeed the accolades has to be given to the economic growth and development brought through our industries which otherwise would not have been possible. However, there stands in front of us our dreams – a dream to make India a prosperous and vibrant country. A dream to increase(3) the gross inequality that exists today and dis-empowerment that exists today traversing region, gender & economy. A dream to bring sustainable and exclusive growth and a dream to make India a global superpower and feel proud of our nation. This dream forces us to introspect(4) the past failures and reinvigorate our actions and policies that not only make India a GLOBAL MANUFACTURING HUB but also a Nation of Our dreams as envisaged in the Preamble of our constitution. Over here, we shall see a brief evolution of the growth of industries in India and the present scenario. We shall then go through the various problems that hinder(5) the growth of India as a manufacturing nation. We shall analyse how certain policy measures have affected the right policy climate and confidence of the private sector which has curtailed investments from both foreign and domestic avenues(6). We shall then suggest reforms and steps that needs to be brought in to bring the right policy climate which is stable, predictable, enabling and reversible and not only boosts investments in India but make India a favourable(7) business venture while also keeping in light of the fact that India is still a developing nation and the interests of the Nation has still to be protected in era of globalisation and free market economy. The Indigenous Industrial growth in India was in contestation with the British on-going Financial Socialism. Thus the growth was highly resource starved, with lack of Indian heavy industries and dependency on foreign imports. It checked the growth of Indian ancillary(8) industries bringing huge unemployment and regional imbalance. The progress and dependency of Indian private industries was precisely the reason when in the BOMBAY PLAN-1946 , the industrial class accepted a State-Controlled mixed economy over private led in-order to boost rapid industrialisation and also to pre-empt socialism by combining equity (9) with growth. The Industrial Policy of 1956 had highlighted the need for a mixed economy and the need for heavy industries. The Nehru-Mahalanobis model of growth boosted the growth of heavy enterprises in India and India witnessed the growth of steel plants, huge dams, manufacturing units – automobiles, ports, airports etc. which was slowly but steadily transforming India. However the prolonged continuation of Import-substitution-Industrialisation model, the growing ICOR(incremental capital output ratio) of industries in mid-1980s and the failure to make a timely shift to a liberalised economy which was rightly tapped by the south-east Asian nations, culminated(10) in the economic crisis of 1991 and forced institutional changes in the economy that brought in liberalisation, privatisation and globalisation of the Indian economy. The situation of the economy as it exists today is that it stands on solid grounds with lots of positives to surge ahead.
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