According to the Industrial Policy Resolution, 1948, the industries were divided into how many categories?
Show answer & explanation
Correct answer: B
Explanation
Correct Answer:
Option 2: 4
Explanation:
The Industrial Policy Resolution of 1948 was independent India's first industrial policy, under which industries were classified into four categories. The first category comprised industries that were exclusively under government control; the second category involved participation from both the government and private sectors; the third category was open to the private sector; and the fourth category established a framework for control and regulation. The objective of this policy was to foster balanced industrial development and establish a mixed economy. It served as the foundation for India's economic planning.
Potential Questions for Upcoming Exams:
Question: When was India's first industrial policy introduced?
Answer: 1948
Question: What is the Industrial Policy of 1956 renowned for?
Answer: The Socialist Pattern of Society
Question: What is the meaning of a mixed economy?
Answer: The coexistence of both the government and private sectors.
Question: When was the Planning Commission established?
Answer: 1950