Societal Impact of Special Industrial Incentives Package- Managerial Perceptions

Abstract

Economic, political and social processes are interwoven inextricably in the course of development. Development economics is sterile without an understanding of the accompanying developmental politics, which involves the interaction of the state with the major actors. At the core of this politico-economic process is the role assigned to industrialization (Bhaduri and Patkar 2009). Industrialization influences the growth of national output and income and thus, improves the entire national life by affecting social, economic, political and cultural pattern of the society. Industrialization brings more equitable distribution of income between different parts of the world by raising income in depressed areas at a higher rate than in rich areas (Rodan, 1943). Industrialization in a particular region not only influences the economic sphere of people's life by raising income and employment opportunities, but also influences the social and cultural life with increased opportunities for education, superior housing, public health and other infrastructural facilities (Prasad, 1957).