First ever policy for capital goods sector launched by Union Ministry for Heavy Industries

Q.  First ever policy for which sector has been approved by the Union Ministry for Heavy Industries?
- Published on 17 Feb 16

a. Heavy goods sector
b. Capital goods sector
c. Labour goods sector
d. Manufactured goods sector

ANSWER: Capital goods sector
Government of India has approved the first ever policy for capital goods sector, according to Union Minister for Heavy Industries Anand Geete. Policy holds that export will be increased to 40% of the production from the current 27% with increase in share of domestic production in India’s demand to 80% making India the net exporter of capital goods. National Capital Goods Policy aims to increase production of capital goods from Rs 2,30,000 crore in 2014-15 to Rs 7,50,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million.

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