Although there was a category of industries left to the private sector, the sector was kept under state control through a system of licenses. No new industry was allowed unless a license was obtained from the government.
The above lines are about which of the following?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. IPR-1956
- Although there was a category of industries left to the private sector, the sector was kept under state control through a system of licenses. No new industry was allowed unless a license was obtained from the government. This line is about to IPR-1956
- The Industrial Policy Resolution of 1956 was adopted with the goal of the state controlling the commanding heights of the economy.
- This resolution formed the basis of the Second FiveYear Plan, the plan which tried to build the basis for a socialist pattern of society.