“The Industrial Policy Resolution (IPR), 1956 classified all the industries based on state ownership and control in various categories.”
Do you agree with the above statement ? Give valid reasons in support of your answer.
“The Industrial Policy Resolution (IPR), 1956 classified all the industries based on state ownership and control in various categories.”
Do you agree with the above statement ? Give valid reasons in support of your answer.
Show Hint
Solution and Explanation
The Industrial Policy Resolution of 1956 was the main industrial policy of the second Five Year Plan period.
It set the pattern of ownership and control for all industries in India.
Step 2: State whether we agree:
Yes, we agree with the statement.
The IPR 1956 divided all industries into three categories on the basis of state ownership and control.
Step 3: Reason 1: first category:
This category had industries that were to be owned exclusively by the government.
Private firms could not enter these industries at all.
Step 4: Reason 2: second category:
In this category the private sector could add to the efforts of the public sector.
However, the government alone took the responsibility of starting new units in these industries.
Step 5: Reason 3: third category:
The third category had all the remaining industries, which were left to the private sector.
Even so, the state kept these industries under its control through the system of licences.
Final Answer:
Yes, the statement is correct. The IPR 1956 placed every industry in one of three groups: exclusively government owned, jointly open with the government in the lead, and private but licensed by the state.
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