Question

Advantages and disadvantages industrial policy of 1956

Answer 1

Industrial Policy Resolution of 1956. Industrial Policy Resolution of 1956(IPR 1956) is a resolution adopted by the Indian Parliament in April 1956. It was the first comprehensive statement on industrial development of India. The 1956 policy continued to constitute the basic economic policyfor a long time.

Answer 2

Advantages and disadvantages industrial policy of 1956

Explanation:

• Industrial policy act of 1956 is a resolution adopted by the Indian parliament on the industrial development of India, has been confirmed in all the five-year plans of India and according to this socio-economic policy, India has to establish a socialist pattern of society.

Advantages:

• To enhance the industrial growth that leads to economic growth by efficient use of resources and to modernization and to balance the industrial development.

• To coordinate the development of large, small, and medium enterprises. To enhance relations between the workers and the management and proper use of domestic or foreign capital.

Disadvantage :

• Absence of incentives for raising efficiency.

• Focus attention on the internal liberalization without adequate focus on trade.

• It has a consumption-led growth instead of an investment-driven.

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• brainly.in/question/2226593 answerd by Saurav89.