Shorthand Dictation “Important Bill” 80 Words per minute with outline, 5 Minute Test 1

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Mr. Deputy Chairman, we are discussing a very important Bill. When we are discussing this/ Bill, we should devote all our attention on the economic effects of this Bill to // this country. The original idea of an Industries Development and Regulation Act was all right /// to certain extent. But I am afraid the same cannot be said of (1) this amending Bill, which is giving too much powder to the Government interfere in / industry in/ industry. I think that the economic experts know only two types of economy – either the // nationalized industrial economy,  or a capitalist economy with big failure of administration. There is no /// halfway house. I find that this industries Development and Regulation Act is entering into a (2) very difficult field. It is almost an uncharted sea and we are undertaking regulation which, / instead of benefiting our economy, may rather ruin it.

In a capitalist economy, it is // the rule of the survival the fittest. It is quality and price structure that determines/// the success of any business. If the management is bad, the business goes down. The (3) shareholders keep a watch on it. On the other hand , in a nationalized industry, in / a planned economy, the Government thinks of the total requirements of the country as to // how many industries are required to produce any particular goods, and whether the industries are /// spread out properly in the various parts of the country having regard to the raw  (4) material easily available. But in this Bill we are not following either of the two/ economies. We are imposing some sort of regulation on the industries as they exist at // present. therefore, I submit that this type of regulation, instead of saving our economy, will /// surely go against any kind of progress.

We generally follow what is done in England, (5) though after an interval of few years. There was a similar industries Development and regulation / act in Britain and therefore we must also have a similar law in our country./// find? Out of the four development Councils set up in Britain, only one was successful. (6/360 words)