The 1977 Industrial Policy introduced new definitions for 'tiny sector' and 'small scale industries' and reserved specific products for production by the small sector. It also aimed to regulate large industries more strictly, particularly those covered by MRTP and FERA acts, limiting their expansion to core sectors.
The main thrust of the Industrial Policy Statement 1977 was to
Asked in TNPSC CS Prelims 2014 · Topic: Industrial Sector (Industrial Policy and its Evolution since Independence)
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Answer: C. Encourage small scale and cottage industries
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