Facade of Policy

THE Union Government is, to all appearances, on the threshold of a major shift in its general industrial policy. There will be from now on increasingly less emphasis on the observation of the provisions of the Monopolies and Restrictive Trade Practices Act. The Government will lean over backwards to accord expansion of capacity to whoever asks for such expansion and to permit retroactive authorisation of capacityexpanded without prior approval, all that will be necessary is an extra measure of liberalism while interpreting the new frame of policy announced last February. There is not much foreign exchange to play around with, but, within the limits of this restraint, industrial enterprises will be allowed an additional latitude to import essential components, spares and materials. Requests for new licences, it may be assumed, will be somewhat speedily processed, whatever the nature of the proposed industrial activity and not much will be heard on the theme of priority and non-priority sectors. Reports that a single, cradledo-grave type of 'agency is on the anvil to oversee the entire gamut of formalities concerning new ventures, beginning with the issue of the letter of intent and going to the stage of arranging the required capital funds horn public financial institutions, confirm the suspicion that the so-called socio-economic considerations, or what have you, ate being ditched in a desperate bid to perk up the rate of industrial growth.