Discuss the industrial Policy of 1956 in the context of the Indian Economy
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The 1956 Policy emphasised the need to expand the public sector, to build up a large and growing cooperative sector and to encourage the separation of ownership and management in private industries and, above all, prevent the rise of private monopolies.
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The industrial policy of 1956 is the policy which is adopted by the Indian Parliament.
What are the significances of Industrial Policy?
- Productivity is maintained under this policy
- Any investor of a foreign country are invested easily without any charge
- It also involves public sectors industries
- All the industries under this are controlled by Central Government
- It includes various rules and regulations for investment
- All private-sector small scale industries are treated equally
- New industries are open in backward areas
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