All Gloss

THE departmental annual reports presented to parliament every year are meant to provide a backdrop to the concerned public policies under implementation and also contain a succinct assessment of the progress achieved in relevant sectors. The latest annual report of the ministry of industry covering four major departments, namely, those of industrial development, heavy industry, public enterprises, and small-scale, agro and rural industries, does nothing of the sort. While radical changes have been introduced in industrial policy apparently to "accelerate the pace of industrial growth" by providing greater freedom in investment decisions, keeping in view the objectives of efficiency and competitiveness, technological upgradation, maximisation of capacity utilisation and increased exports, the overall industrial production under the impulse of the new economic policy, has nearly stagnated continuously for three years 1991-92 to 1993-94 and is showing no signs of improvement in the fourth year. The ministry's report fails even to recognise the deteriorating conditions leave alone make any worthwhile analysis of the persistent stagnation and its possible causes.