The Industrial Policy Resolution of 1956 categorised industries into how many groups?

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  1. Five
  2. Three
  3. Nine
  4. Seven

Answer (Detailed Solution Below)

Option 2 : Three
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The correct answer is Three.

Key Points

  • The Industrial Policy Resolution of 1956 was a significant policy document in the industrial sector of India.
  • This policy categorized industries into three groups known as Schedule A, Schedule B, and Schedule C.
  • Schedule A comprised industries that were to be the exclusive responsibility of the state.
  • Schedule B included industries that would be progressively state-owned, but private sector participation was allowed.
  • Schedule C consisted of all other industries that were left to the private sector with the state generally taking measures to help them grow.
  • The policy aimed at accelerating the rate of industrialization and developing the public sector.
  • It also sought to reduce income inequalities and ensure a more equitable distribution of wealth.

 Additional Information

  • Industrial Policy Resolution
    • The Industrial Policy Resolution of 1956 was pivotal in shaping India's industrial landscape.
    • It was designed to create a socialistic pattern of society through industrial development.
    • The policy emphasized the role of the public sector in accelerating economic growth and reducing disparities.
    • It also aimed to encourage small-scale industries to promote employment and equitable distribution of income.

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