Question

Discuss the principal components of Industrial Policy Resolution, 1956.

Answer 1

1.

2. Industries in the private sector could be established only through a license from the government. The basic idea was to encourage the establishment of the industry in backward regions, with a view to encouraging regional equality.

3. While the government was to assume a leading role in the process of industrialization the private entrepreneurs were offered many types of industrial shops for establishing industry in the backward regions of the country.