Question

Match the following.

X- Industrial Development Corporation
Y- Industrial Licensing Policy

• A. 1951
• B. 1970
• C. 1954

Answer 1

The first Five Year Plan began in 1951. In 1954, Industrial Development Corporation was set up to help in the development of Industrial sector. In 1970, the Industrial Licensing Policy was passed which clarified that factories requiring investment of more than Rs. 5 crores are heavy industries. This policy also allowed the private investment in heavy industries.