VOLUME - 5, ISSUE – 1 , JUNE ,2019 ISSN NO. : 2455-4642 (ONLINE)
IDEES –International Multidisciplinary Research Journal
(Peer Reviewed)
Research Paper on
PERFORMANCE OF INDIAN INDUSTRIAL SECTOR IN PRE AND POST NEW
INDUSTRIAL POLICY (NIP) PERIOD 1991
By
Dr. Manish R. Patel
Assistant Professor
Department of Economics
Veer Narmad South Gujarat University
Surat 395007, Gujarat, India.
E-mail id: [email protected]
Contact no.- 9429345920
Abstract
Background
The structure and function of the industrial sector is an important perspective of Indian
Economy. It is imperative for industries to grow both qualitatively and quantitatively to boost the
economy. The well-being of the industries depends truly on the formulation and promotion of
industrial policies framed by the policy makers. Industrial policy, inter-alia, covers the
procedures, principles, rules & regulations, which impact the industrial establishments of a
country & shape the pattern of industrialization.
Objectives
The objectives of present study are
1. To understand the overall changes in Indian industrial policy.
2. To assess PERFORMANCE of Indian industrial production during pre and post New
Industrial Policy (NIP) period.
Methodology
This study is based on the secondary data. The data are collected from various issues of
Indian Economic Survey. The present study covered a period of 52 years from 1965-66 to 2016-
17. Pre new industrial policy period data is covered twenty six years from 1965-66 to 1990-91.
Post new industrial policy period data is covered twenty six years from 1991-92 to 2016-17.
Growth rate of Index of Industrial Production (IIP) used to compare the pre and post New
Industrial Policy period. The descriptive statistics and figure used in the present study.
Results and conclusion
The average rate of growth of industrial production for the twenty six years of pre and
post New Industrial Policy period was 5.66 per cent and 5.76 per cent respectively. The study
revealed that growth rate of industrial production was moderately changed during before and
after New Industrial Policy period. Standard deviation of pre and post New Industrial Policy
period was 3.43 % and 4.22% respectively. It revealed that high fluctuation of growth rate was
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