In India, as per the Industrial Policy Resolution 1956, the second category consisted of industries in which the _____.
Show answer & explanation
Correct answer: A
Explanation
Correct Answer: Option 1 (The private sector could complement public sector efforts)
Explanation:
Under the Industrial Policy Resolution (IPR) of 1956, industries were divided into three categories. The second category included industries that were to be gradually brought under government ownership, but in these, the private sector was allowed to assist or 'complement' government efforts by starting new units.
Additional Facts
First Category: This included 17 industries that were completely owned by the state (government).
Third Category: This included all remaining industries, which were primarily left to the private sector.
Objective: The main goal of this policy was to develop heavy industries and establish a socialist society.
Possible Questions for the Upcoming Exam
In which year was India's 'Second Industrial Policy' announced?
(Answer: 1956)
According to the 1956 policy, atomic energy and railways were in which category of industries?
(Answer: Category 1)
The beginning of the 'License Raj' is strongly associated with which industrial policy?
(Answer: Industrial Policy of 1956)