The question (15 marks)
Examine the New Industrial Policy of 1991 under its principal heads. What did it not do, and how does it connect to the Competition Act 2002 and to the policy treatment of MSMEs? (15 marks)
Standing MU question on Module 2 heads 7 and 8. Built from chapters 12 and 13 and worked examples 11 and 15.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 2 · Indian Economy of Economics.
Authorities you will need
- Statement on Industrial Policy, 24 July 1991 (Department for Promotion of Industry and Internal Trade copy)
- Competition Act 2002, ss. 3 and 4
- Micro, Small and Medium Enterprises Development Act
- Press Information Bureau release on the revised MSME definition effective 1 July 2020
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.