THE BASIC WIKIPEDIA DEFINITION OF;
National Industrial Recovery Act (NIRA):
The law was passed by Congress in 1933, and enacted in June of 1933. It was set in place to authorize the President to regulate industry in an attempt to raise prices after severe deflation and stimulate economic recovery. It also established a national public works program known as the Public Works Administration. The NRA portion was widely hailed in 1933, but by 1934, business opinion had soured. The NRA was abolished by the Supreme Court in 1935 and not replaced.
The original NIRA Act of 1933, signed by President Roosevelt himself. (Taken from Wikipedia)