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Introduction
“Small-Scale sectors” are those industries that start with less manpower and machinery. However, it is on a small scale but these industries fall under government guidelines.
“Small-Scale sector” industries are basically dependent on labor-power that’s why it has a major role in creating employment in developing countries. “Small-Scale sector” includes industries like school stationeries, bakery, paper bags, toy manufacturing, and water bottle and beauty parlors. Its variety of necessities generally signifies that these industries are crucial from social and financial points of view. The “Small-Scale sector” industries are generally run under single ownership. However, in modern times these industries share their partnerships.
Discussion
Small scale sector definition
“Small scale sector definition” indicates the running industries that serve the characteristics of industries on a small scale. “Small scale sector definition” expresses that the investment in these companies would be one time. It is seen that most of the investments are in plants and machinery. “Small scale sector definition” clearly explains that the total investment does not reach more than 1 crore. “Small scale sector definition” indicates the functionalities in a company done with limited manpower and machinery. According to “Small scale sector definition” the total works done on a company are based on the dependency of laborers so it can fill the huge unemployment gaps in the country. According to the “Small scale sector definition,” these industries not only generate incomes but also stabilize the per capita income.
“Small scale sector definition” mentions that industries are flexible enough to adapt to changes in the business atmosphere. However, the large scale industries are not flexible enough in comparison to the “Small scale sector definition” in adapting changes in a company’s infrastructure.
Policy for small scale sector
“Policy for small scale sector” refers to various policies that come under labor policies. “Policy for small scale sector” first refers to The Factories Act (1948) that came up with some provisions and objectives. The objectives of this act are to ensure safety measures of the company related to welfare and health issues. Further, this act also ensures a systematic growth of the company that goes with provisions.
“Policy for small scale sector” also indicates the minimum Wages Act (1948) with its objectives to determine the wages of the industry labor organizations. The main provision of the minimum wages act was to fix minimum wages and ensure the process of fixing. It also talks about revising wages in case any changes are involved in the company.
“Policy for small scale sector” also follows the 1952 Act that is related to employee’s provident funds and its provisions. Its main objective is to secure the future of the industrial workers with a compulsory provident fund, family pension deposit insurance.
“Policy for small scale sector” also follows other import acts such as Workmen’s Compensation Act, Contract Labor Act, interstate migrant workers act, Child Labor Act, Equal Remuneration Act like various acts. In short, all these acts are focused on the systematic structure of “Small-Scale sectors” and the safety of its workers.
“Small scale sector in India”
The Indian government is taking many steps for promoting a more “Small scale sector in India”. However, this increasing trend poses a competitive market in India. In developing countries like India, these companies play a major role. It is seen that “Small scale sector in India” industries do not differentiate them from Indian cotton industries.
Most Indians are generally associated with agriculture in rural areas so generally small scale industries are traditionally made in urban areas. “Small scale sectors in India” are generally based to serve the demand of local Indian customers. It is seen that “Small scale sectors in India” are dependent on local resources so basically the activities done in the “Small scale sector in India” are restricted.
“Small scale sector in India” is made on the smaller investment with a limitation of up to 1 crore. It can then be clearly seen that these sectors are unable to spend more on large technologies than on manpower. These company units are basically established in such areas that are filled with abundant numbers of labor.
Conclusion
On a concluding note, it can be said that “Small-Scale sectors” however, based on a small scale it is a growing sector. Further, “Policy for small scale sector” ensures all rules and regulations for the security and safety of the laborers in “Small-Scale sectors”. “Policy for small scale sector” ensures these points help the “Small-Scale sectors” to grow faster. “Small scale sector in India” however growing rapidly has some restrictions based on resources. Government aid can help these companies to overcome these impediments and to excel in their business products in other countries.
