The subject matter is comparatively new and is of current importance. Effect of economic policies can be seen only after a time lag. This time factor also varies in duration based on the nature of policy and targeted variable one is looking at. For example, effect of monetary policy on rate of interest can be seen without much time lag, effect of interest rate on investment decision will require a slightly more time period. Effect of investment on industrial structure, industrial output etc. could be seen only after a substantial gap of time. There are various reasons for that but perceptible changes could be noticed only after sufficient time is elapsed. Changes of new industrial policy have started becoming visible after the time span of 6 to 8 years. But more meaningful study of the effects would require the time period of 10 to 12 years. So, time period of the study is contemporary and co terminus with Indian industrial restructuring. There are only a few studies which are targeting this segment. Moreover, focus of each study differs in content and character. The approach to this study is rather new, live and with little research on the aspects highlighted in the present study. The subject is significant for research in many respects. Periodic assessment of the policy matching the objections and outcome is an essential exercise that is to be carried out. There are various unintended effects of the policy which requires corrections. Proper targeting is needed in order to achieve predetermined objectives. Hence, if this study could identify the specific factors that are relevant in producing desired impact of the policy measures, they would certainly help in evaluating, guiding and re-adjusting policy actions. This would help in minimizing the time period or lags between policy announcement and its impact as well as plugging the loopholes of the policy.

Keywords: Economic, Industrial, Policy, Monetary, Restructuring, Structure, Investment, Assessment.