Question

What were the objectives laid down for public sector in industrial policy resolution of 1956?

Answer 1

IPR 1956 was adopted in order to accomplish the aim of state controlling the commanding heights of economy. This policy was aligned with the Indian economy’s inclination towards socialist pattern of system of Soviet Union. The following are the main features of the policy.

1. Industrial licensing system

2. Price control on goods

3. Foreign exchange control

4. Restrictions on investment by big business

5. Procuring license for expansion in scale

Answer 2

answer

__________
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According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery. It laid down three categories of industries which were more sharply defined.

_________