What was the main objective of the Industrial Policy of 1956?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Growth with equity.
The Industrial Policy Resolution (IPR) of 1956 was the "Economic Constitution" of India. Its main objective was to achieve growth with equity by establishing a socialistic pattern of society. It aimed to reduce regional disparities and income inequality by giving the state a leading role in industrial development. By expanding the public sector and supporting small-scale industries through protections and subsidies, the government sought to ensure that industrial progress benefited all sections of society, not just a wealthy few.