When was the first Industrial Policy announced in independent India?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1948.
The first Industrial Policy Resolution (IPR) of independent India was announced on April 6, 1948, by the then Minister of Industry, Dr. Syama Prasad Mookerjee. This policy laid the foundation for a "Mixed Economy" model, where both the public and private sectors co-existed.
It categorized industries into four groups, reserving strategic areas like arms, atomic energy, and railways exclusively for the Central Government, while allowing private participation in others under government regulation.