Some of the important objectives can be identified as follows:
1. Correcting Imbalances:
Correct the imbalances in the development of industries and helps in bringing about a desirable balance and diversification in them.
2. Directing Resource Flow:
Direct the flow of scarce resources in the most desirable areas of investment in accordance with national priorities.
3. Optimum Utilisation of Resource:
Prevent the wasteful use of scarce resources and ensure their conservation and judicious utilisation.
4. Control over Private Industry:
Empower the government to regulate the establishment and expansion of private industry in accordance with the planned objectives.
5. Demarcating Industrial Areas:
Demarcate areas among the public, private and joint sectors of the economy, as well as large, ,medium and small-scale industries.
6. Proper Distribution of Wealth:
Prevent the formation of monopolies and concentration of wealth in a few hands through fiscal and monetary policies. So that the evils associated with monopolies can be effectively curbed.
7. Control Over Foreign Capital:
Give guidelines for importing foreign capital and the conditions on which such capital should be permitted to operate.
8. Other Objectives:
Other objectives or the rationale of industrial policy includes.
i) Achieving a socialistic pattern of society
ii) Preventing undue concentration of economic power.
iii) Achieving economic growth,
iv) Achieving industrial development.
v) Reducing disparities in regional development.
vi) Developing heavy and capital goods industry.
vii) proving opportunities for gainful employment.
1. Correcting Imbalances:
Correct the imbalances in the development of industries and helps in bringing about a desirable balance and diversification in them.
2. Directing Resource Flow:
Direct the flow of scarce resources in the most desirable areas of investment in accordance with national priorities.
3. Optimum Utilisation of Resource:
Prevent the wasteful use of scarce resources and ensure their conservation and judicious utilisation.
4. Control over Private Industry:
Empower the government to regulate the establishment and expansion of private industry in accordance with the planned objectives.
5. Demarcating Industrial Areas:
Demarcate areas among the public, private and joint sectors of the economy, as well as large, ,medium and small-scale industries.
6. Proper Distribution of Wealth:
Prevent the formation of monopolies and concentration of wealth in a few hands through fiscal and monetary policies. So that the evils associated with monopolies can be effectively curbed.
7. Control Over Foreign Capital:
Give guidelines for importing foreign capital and the conditions on which such capital should be permitted to operate.
8. Other Objectives:
Other objectives or the rationale of industrial policy includes.
i) Achieving a socialistic pattern of society
ii) Preventing undue concentration of economic power.
iii) Achieving economic growth,
iv) Achieving industrial development.
v) Reducing disparities in regional development.
vi) Developing heavy and capital goods industry.
vii) proving opportunities for gainful employment.
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