Mega Food Parks; Integrated Cold Chain; Value Addition Preservation Infrastructure; Modernization of Slaughterhouse; Scheme for Quality Assurance; Codex Standards; Research and Development and other promotional activities.

It is an area in which business and trade laws are different from rest of the country mainly aiming at increasing trade, investment and job creation.

(i) Reduction in fertilizer subsidy.
(ii) Abolition of subsidy on sugar.
(iii) Disinvestment of a part of the government's equity holdings in select public sector undertakings.

(i) Goods and Services Tax is defined as the tax levied when a consumer buys a good or service.
(ii) It is proposed to be a comprehensive indirect tax levied on manufacture, sale and consumption of goods and services.
(iii) It replaces all indirect taxes on goods and services by the government.
(iv) It is a one-point tax.
(v) The GST Act was passed on 29th March 2017 and came into effect on 1st July 2017.
(vi) The motto is one nation, one market, one tax.
Advantages:
(i) Removing Cascading tax effect.
(ii) Single point tax.
(iii) Higher threshold for registration.
(iv) Composition scheme for small business.
(v) Online simpler procedure under GST.
(vi) Defined treatment for e-commerce
(vii) Increased efficiency in logistics.
(viii) Regulating the unorganized sector

Free imports and exports:
(i) Before 1991, imports were regulated.
(ii) From 1992, imports were regulated by a limited negative list.
(iii) Trade Policy of 1st April 1992 freed imports of almost all intermediate and capital goods.
(iv) Only 71 items remained restricted.
(v) This would affect domestic industries.
Rationalization of tariff structure and removal of quantitative restriction:
(i) The Chelliah Committee's Report had suggested 50 % reduction in import duties.
(ii) The 1991-92 budget had reduced the peak rate of import duty from more than 300% to 150%. The process of lowering the customs tariffs was carried further in successive budgets.
(iii) This also affected the domestic industries.

(i) To promote public private partnership in agricultural markets.
(ii) To provide market-led extension services to farmer.
(iii) To bring transparency in pricing system and transactions in a market.
(iv) To ensure payments to the farmers for their sale on the same day.
(v) To promote agricultural activities.
(vi) To display data on arrivals and rates of agricultural produce from time to time.

Introduction:
The government of India, Ministry of Commerce and Industry announced New Foreign Trade Policy on 1st April 2015 for a period 2015 - 2020.
Salient Features:
(i) Reduce export obligations by 25% and give boost to domestic manufacturing supporting the 'Make in India' concept.
(ii) As a step to Digital India concept, online procedure to upload digitally signed document by CA/CS/Cost Accountant are developed and further mobile app for filing tax, stamp duty has been developed.
(iii) Repeated submission of physical copies of documents available on Exporter Importer Profile is not required.
(iv) Export obligation period for export items related to defence, military store, aerospace and nuclear energy to be 24 months.
Conclusion: EXIM Policy 2015 - 2020 is expected to double the share of India in World Trade from present level of 3% by 2020. This is too ambitious.

Introduction:
(i) The Prime Minister of India announced the new Industrial Policy in 1991.
(ii) The policy has brought changes in the following aspects.
Industrial delicensing policy:
(i) Under the industrial licensing policies, private sector firms had to secure licenses to start an industry.
(ii) The new industrial policy brought an end to industrial licensing or the license raj or red tapism.
Dereservation of the industrial sector:
(i) Previously the public sector was given reservation in capital goods and key industries.
(ii) Under industrial deregulation most of the industrial sectors were opened to the private sector as well.
(iii) Only 3 sectors ie., atomic energy, mining and railways will continue as reserved for public sector.
Reforms related to the public sector enterprises:
(i) Reforms in the public sector aimed at enhancing efficiency and competitiveness of the sector.
(ii) The government identified strategic and priority areas for the public sector to concentrate.
(iii) Loss making PSUs were sold to the private sector.
Abolition of MRTP Act:
(i) The Monopoly and Restrictive Trade Practices Act, 1969 was abolished.
(ii) In 2010, the Competition Commission monitored the competitive practices in the economy.
(iii) A strong and competitive private sector and a number of foreign companies were started in India.
Foreign Investment Policy:
(i) Foreign Investment including FDI and FPI were allowed.
(ii) In 1991, the government announced a specified list of high-technology and high-investment priority industries wherein automatic permission was granted for foreign direct investment (FDI) up to 51% foreign equity.
(iii) Later it was raised to 74% then 100%.
(iv) Foreign Investment Promotion Board was set up to negotiate with international firms and approve foreign direct investment in select areas.