National Capital goods policy unveiled
Q. Which of the following is/are true?
1) The recently launched National Capital goods policy contains major changes over the previous policy.
2) The policy envisages increasing exports from the current 27 per cent to 40 per cent of production.- Published on 16 Feb 16a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
ANSWER: Only 2
- This is for the first time that a national policy has been framed for the sector. There was no previous policy.
- The policy envisages increasing exports from the current 27 per cent to 40 per cent of production while increasing share of domestic production in India's demand from 60 per cent to 80 per cent, thus making India a net exporter of capital goods.
- The policy also aims to facilitate improvement in technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.
- Some of the key issues addressed include availability of finance, raw material, innovation and technology, productivity, quality and environment friendly manufacturing practices, promoting exports and creating domestic demand.
