Economics · Industrial Policy Resolution 1956

The Industrial Policy Resolution of 1956 shaped India's industrial development strategy for decades. What was a key feature of this resolution?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1It promoted a completely open market environment with minimal government intervention.
2It categorized industries into three schedules, with the public sector leading in strategic and heavy industries.✓
3It prohibited the development of large-scale enterprises to support small industries.
4It strongly advocated for the dominance of the private sector in all industrial activities.

Correct answer

It categorized industries into three schedules, with the public sector leading in strategic and heavy industries.

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