Advanced Placement (AP) College

8. Write notes on any two of the following:
(a) Role of state in economic development
(b) Problems of small scale industries in India
(c) Labour regulations in India

Answers

Answer 1

(a) Role of state in economic development:The state plays a crucial role in economic development by providing an enabling environment for growth and development.

b)  Problems of small-scale industries in India:Small-scale industries (SSI) face several challenges in India.

a) Policy formulation and implementation: The state formulates and implements economic policies that create a conducive environment for businesses to thrive. This includes policies related to trade, investment, taxation, infrastructure development, and social welfare.

Infrastructure development: The state invests in infrastructure development, such as transportation networks, communication systems, power generation, and water supply. These infrastructure investments provide the necessary foundation for economic activities and attract private investments.

Investment promotion: The state promotes investment by creating favorable investment climates, providing incentives, and facilitating access to finance. It establishes investment promotion agencies and streamlines bureaucratic processes to attract domestic and foreign investments.

b) Lack of access to finance: SSI often struggle to access adequate finance for their operations. Banks and financial institutions are often hesitant to lend to small businesses due to perceived risks. Limited access to formal credit constrains their growth and investment capabilities.

Infrastructural constraints: SSIs face infrastructure-related challenges, including inadequate transportation networks, power shortages, and limited access to water supply. Poor infrastructure affects production efficiency, increases costs, and limits market reach.

Technological limitations: Many SSIs lack access to advanced technology and face challenges in adopting modern production techniques. Limited technological capabilities restrict their ability to compete in the market and achieve economies of scale.

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