The Industrial Policy Resolution of 1956 categorised industries into how many groups?
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A.
Seven
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B.
Five
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C.
Nine
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D.
Three
Correct Answer:
D. Three
Explanation:
The Industrial Policy Resolution of 1956, often referred to as the Economic Constitution of India, categorized industries into three distinct groups to promote a socialist pattern of development. These categories were organized into schedules based on the degree of state ownership: Schedule A consisted of 17 industries exclusively reserved for the public sector, such as arms, atomic energy, and railways; Schedule B included 12 industries that would be progressively state-owned but allowed private sector participation to supplement government efforts; and Schedule C comprised all remaining industries, which were left open to the private sector subject to government licensing and regulation. This threefold classification aimed to accelerate industrialization while ensuring the state maintained a commanding role in strategic sectors of the economy.
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