how were public and private sector regulated under IPR 1956 ?
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: The Industrial Policy Resolution (IPR) 1956 was adopted in order to achieve the aim of a socialist state with government controlling the major strategic industries of the economy. ... Hence, the government fully controlled the private sector either directly or Indirectly through the IPR 1956.
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Private sector was given minimum role in IPR 1956. New industry could start operation after it had obtained licence from the government. Licence was given after scrutiny by the government.
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