According to the Industrial Policy Resolution 1956, in how many categories were the industries classified in India?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 3.
According to the Industrial Policy Resolution of 1956, industries in India were classified into three categories:
Schedule A: Industries exclusively owned by the state, including key sectors like defense and heavy industries.
Schedule B: Industries where the state would play a major role in investment and development, including sectors such as transportation and utilities.
Schedule C: Industries that could be owned and operated by the private sector, but with some regulatory oversight.
This classification aimed to balance public and private sector roles in industrial development.