Which of the following statements is-are correct-1- The Industrial Policy Resolution of 1948 gave the government the go - ahead to build and operate key industries- which largely meant those producing capital and intermediate goods-2- It was believed that private ownership of basic industries was necessary to ensure development in the interest of the whole population-3- With the Industrial Policy Resolution of 1956 - the government emphasized the need for growth of heavy industries in the country and massive industrialization of public sectors-Codes-

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Classification: Ownership of Industries

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Which of the following statement(s) is/are correct?

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Only 1 and 2

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Only 2 and 3

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Only 1 and 3

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All of these

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Solution

The correct option is C
Only 1 and 3

The first important resolution was issued by Govt. of India on April 6, 1948. After that there have been changes several times. This Policy divided the industries into four categories. The small and cottage Industries were given privileges. However this policy also considered the importance of Private participation.
1. State Monopolies: This category included the manufacture of arms and ammunitions, the production and control of atomic energy and the ownership of railways. This category would belong to the exclusive monopoly of central government
2. Basic industries: The basic industry sector comprised 6 sectors of coal, iron & steel,, ship building, aircrafts manufacturing, Aircraft Mfg, Ship Building, Telephone, Telegraph & Wireless (Excluding Radio) & Mineral Oils. The existing can continue and after 10 years, the government will take over those undertakings by paying a compensation which is fair and equitable. So It was not at all believed that private ownership of basic industries
3. Regulated Industries: The Government of India would regulate these industries as they were important to the masses. The industries that were included were –Automobiles, Heavy Machinery, Heavy Chemicals, Fertilizers, Sugar, Paper, Cement, Cotton, Woolen textiles etc
4. Private Industries: This was the last category. All other industries were kept in this category.

The Industrial Policy Resolution of 1956 was based upon the Mahalanobis Model of growth. This Model suggested that there should be an emphasis on the heavy industries, which can lead the Indian Economy to a long term higher growth path.

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Q. 76. The Planning Commission was established in 1950 through a Government resolution to formulate long-term development Plans and to recommend them to the Union Cabinet. In framing its recommendations, the Commission has to act in close understanding and consultation with the ministries of the Central government and the governments of the States. The responsibility for policy decisions and implementation rests with the Central and State governments. Many have regarded and some still regard, that the Indian Plans are modelled on Soviet-type "command" planning. This is true only to the extent that there was considerable emphasis, particularly in the Second and Third Plans, on creation of a heavy industrial base under the auspices of the State. Under the aggressive intellectual leadership of Prof. P.C. Mahalanobis and a few other technical experts of the Commission, this objective was given a pride of place in development planning. Subsequently, as a result of severe difficulties, higher priority was accorded to agriculture. The Industrial policy resolutions of 1948 and 1956 provided the basic framework of industrial development and regulation. The Industrial policy Resolution of 1948 envisaged careful planning and integrated effort and that a progressively increased role will be assumed by the Central and State governments in the process of economic growth and in industrial development in particular, by the public sector within a mixed economy. It demarcated industries between the public and private sectors, providing for exclusive monopoly of the basic and infrastructural industries to the former. The Industrial policy Resolution of 1956 gave priority to development of heavy industries and machine-making industries, expansion of public sector, besides promoting the co-operative sector.
Consider the following assumptions regarding the above passage.
1. The recommendations of Planning Commission is mandatory for Union and State governments.
2. Under industrial policy resolution 1948 both union government and state governments have to take some initiatives for economic growth through public sector undertakings.
3. The industrial policy resolution 1956 has prioritized heavy industries, machine making industries and cooperative sector through public sector undertakings.

Q. 79. The Planning Commission was established in 1950 through a Government resolution to formulate long-term development Plans and to recommend them to the Union Cabinet. In framing its recommendations, the Commission has to act in close understanding and consultation with the ministries of the Central government and the governments of the States. The responsibility for policy decisions and implementation rests with the Central and State governments. Many have regarded and some still regard, that the Indian Plans are modelled on Soviet-type "command" planning. This is true only to the extent that there was considerable emphasis, particularly in the Second and Third Plans, on creation of a heavy industrial base under the auspices of the State. Under the aggressive intellectual leadership of Prof. P.C. Mahalanobis and a few other technical experts of the Commission, this objective was given a pride of place in development planning. Subsequently, as a result of severe difficulties, higher priority was accorded to agriculture. The Industrial policy resolutions of 1948 and 1956 provided the basic framework of industrial development and regulation. The Industrial policy Resolution of 1948 envisaged careful planning and integrated effort and that a progressively increased role will be assumed by the Central and State governments in the process of economic growth and in industrial development in particular, by the public sector within a mixed economy. It demarcated industries between the public and private sectors, providing for exclusive monopoly of the basic and infrastructural industries to the former. The Industrial policy Resolution of 1956 gave priority to development of heavy industries and machine-making industries, expansion of public sector, besides promoting the co-operative sector.
Consider the following features of 1948 industrial policy resolution.

The Industrial Policy Resolution, 1956 has categorised industries on the basis of ownership.
Discuss.

Q. Q. India’s economic policies evolved with time. In this context, which of the following pairs is/are correctly matched?

Policy	Feature
1. Industrial Policy Resolution, 1956	Private sector is barred from managing industries
2. Industrial Policy Statement, 1980	Industrial Policy Statement, 1980 Restrictive Trade Practices Act
3. New Industrial Policy, 1991	Declared Indian economy as mixed Economy

Select the correct answer using the code given below

Q. Q.India’s economic policies evolved with time. In this context, which of the following pairs is/are correctly matched?

Policy	Feature
1.Industrial Policy Resolution, 1956	Private sector is barred from managing industries
2.Industrial Policy Statement, 1980	Abolished the Monopolies Restrictive Trade Practices Act
3. New Industrial Policy, 1991	Declared Indian economy as mixed Economy

Select the correct answer using the code given below

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Which of the following statement(s) is/are correct? Codes :

Which of the following statement(s) is/are correct?

Codes :