Economics · Industrial Policy Resolution 1956
Why did the Indian government mandate licensing even for expanding the production capacity of existing private sector industries under the Industrial Policy Resolution (IPR) of 1956?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To explicitly encourage and subsidize luxury goods production
- 2To completely prevent technological innovation and modernization
- 3To ensure that production and resource allocation aligned with state-planned development goals✓
- 4To promote intense export competition in global markets
Correct answer
To ensure that production and resource allocation aligned with state-planned development goals
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