The article provides a review and general description of the Law on Industrial Policy in the Russian Federation.The key points covering industrial and financial aspects of the bill are highlighted. The article also discusses the issues related to state support for certain industries and specific measures of its provision such as subsidies, soft lending, social development, and support for the recruitment and information spheres.The author closely considers possible approaches to providing equal access to state support for industries with oligopoly and monopoly markets, as well as foreign companies that have operating plants in Russia.  The issues of creation of favorable conditions for knowledge-intensive industries are also discussed in this work. Since the rate of new of application of technologies in production is one of the key factors of industrial growth, the creation of favorable conditions for expanding domestic research and development activity or purchasing foreign patents and licenses gains special importance.The article touches upon the role of standardization and certification in the bill, as well as the issue of harmonious coexistence of this law with the Tax and Customs Codes, and its conformity with the industrial policy and strategy of the national economy development.