Economics · Economic History
Why did the Indian government implement industrial licensing rules for setting up and expanding industries under the Industrial Policy Resolution (IPR) 1956?
- 1To promote international trade and globalization
- 2To promote regional equality and monitor production according to national priorities✓
- 3To discourage private research and development
- 4To prioritize the production of luxury consumer goods
Correct answer
To promote regional equality and monitor production according to national priorities
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