Industrial Policy — Prelims Strategy
Prelims Strategy
For Prelims, a strong emphasis should be placed on factual accuracy and chronological understanding of India's industrial policy. Start by creating a timeline of major policies: IPR 1948, IPR 1956, and NIP 1991, noting their key features, objectives, and the industries reserved/de-reserved.
Pay close attention to the specific numbers (e.g., 17 industries in Schedule A of IPR 1956, reduction to 8 then 2 for public sector post-1991). Understand the constitutional articles (39(b), 39(c), 19(1)(g)) that provide the basis for industrial policy.
Memorize the core components of recent initiatives like 'Make in India' (objectives, key sectors) and PLI schemes (how they work, sectors covered). Focus on the 'what' and 'when' of policy changes. Practice MCQs that test comparisons between different policies and their direct impacts.
Current affairs related to industrial development (e.g., new PLI sectors, major FDI announcements, infrastructure projects) should be regularly updated and linked to the core policy framework. Create flashcards for key terms like 'License Raj,' 'MRTP Act,' 'FDI liberalization,' and 'Atmanirbhar Bharat.