Q. Consider the following statements:
- Industries Policy Resolution,1956 classified industries into three categories.
- Under this policy resolution, no industry was allowed to run by the private sector without any kind of government control.
Which of the above is / are correct?
Answer:
Both 1 and 2
Notes: Both are correct statements. The Industrial Policy Resolution, 1956 classified industries into three categories.
- The first category comprised industries which were exclusively owned by the state.
- The second category consisted of industries in which the private sector could supplement the efforts of the state sector, with the state taking the sole responsibility for starting new units.
- The third category consisted of the remaining industries which were to be in the private sector.
However, all industries in private sector were kept under state control through a system of licenses. Thus, no industry was allowed to run by the private sector without any kind of government control.