CA Foundation P4 · Chapter 10 · Question 15 of 15
The Industrial Policy Resolution of 1956 is significant because it:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Classified industries into three schedules and gave the public sector the leading role in key industries
Explanation
The 1956 Resolution, in line with the Second Plan's emphasis on heavy industry, divided industries into Schedule A (exclusive responsibility of the State), Schedule B (progressively State-owned, with private participation) and Schedule C (left to the private sector). It shaped India's mixed economy until 1991.
More Indian Economy MCQs
- Q2The immediate trigger for the economic reforms of 1991 was:
- Q3Within the 1991 reform package, which of the following is a 'stabilisation' measure rather than a 'structural reform' measure?
- Q4NITI Aayog replaced which of the following bodies?
- Q5Which of the following best describes the role of NITI Aayog?
- Q6India's First Five-Year Plan (1951-56) gave the highest priority to: