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Why there was a need for …

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Why there was a need for protection of small scale industries?state the steps taken by the government to protect small scale industries.

    • Posted by Riya Jain 4 years, 10 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Gaurav Seth 4 years, 10 months ago

    The policy of protection is based on the notion that industries of developing countries are not in a position to compete against the goods produced by more developed economies. It is assumed that if the domestic industries are protected they will learn to compete in the course of time.

    1. Deregulation of Industrial Sector: removed many of the restrictions.
    2. Industrial licensing was abolished from almost industries.
    3. Financial sector includes financial institutions, such as commercial banks, investment banks, stock exchange operations and foreign exchange market.

    1Thank You

    ANSWER
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