why did IPR 1956 give importance to the public sector
Answers
Answer:
It recognized the role of cottage and small scale sector in context of employment generation and balanced regional growth and provided it tax concessions and subsidies. It gave priority to industrial development in the backward regions of the country to spur balanced growth.
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Answer:
It recognized the role of cottage and small scale sector in context of employment generation and balanced regional growth and provided it tax concessions and subsidies. It gave priority to industrial development in the backward regions of the country to spur balanced growth.
Explanation:
Fair and non-discriminatory treatment for the private sector, encouragement to village and small-scale enterprises, removing regional disparities, and the need for the provision of amenities for labor, and attitude to foreign capital were other salient features of the IPR 1956.The Industrial Policy Resolution of 1948 was followed by the Industrial Policy Resolution of 1956 which had as its objective the acceleration of the rate of economic growth and the speeding up of industrialisation as a means of achieving a socialist pattern of society.IPR -1956 promoted the role of cottage and small scale industries by increasing employment opportunities and making use of available human and resources and reducing- regional inequalities in industrial development. Also, various subsidies and tax deductions were provided to small scale industries.All industries of basic and strategic importance and those in the nature of public utility services besides those requiring large scale investment were reserved for the public sector. The Industrial Policy Resolution - 1956 classified industries into three categories.
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