The correct answer is Industrial Policy Resolution 1956.![image](//cdn. Points

• The Industrial Policy Resolution of 1956 was a landmark policy that outlined the role of the public sector in India’s economy.

• It categorized industries into three schedules: exclusively managed by the State, progressively State-controlled, and privately operated.

• The resolution gave the public sector a strategic role in key industries such as defense, railways, atomic energy, and heavy industries.

• The policy aimed to achieve a socialist pattern of society, emphasizing equitable distribution of wealth and resources.

• It also encouraged the private sector while ensuring that the government had control over industries critical to national interest.

• The resolution laid the foundation for industrial growth and development in India post-independence.![image](//cdn. Information**

• Industrial Policy Resolution 1948

• This was the first industrial policy announced by the Government of India after independence.

• It outlined the broad framework for industrial development, giving the government control over critical industries such as arms and ammunition, railways, and atomic energy.

• The policy emphasized mixed economy principles, allowing both public and private sectors to coexist.

• It also encouraged foreign investment, but with strict regulations to maintain national interests.

• Industrial Policy Resolution 1950

• While no distinct Industrial Policy Resolution was formally introduced in 1950, this year marked significant discussions and initiatives to refine the 1948 policy.

• Efforts were made to set up institutions like the Planning Commission (established in 1950), which later influenced the 1956 resolution.

• The focus was on addressing economic disparities and ensuring balanced regional development.

• Industrial Policy Resolution 1952

• This resolution is less notable compared to the 1948 and 1956 policies.

• It involved minor adjustments to the existing industrial framework, emphasizing the role of small-scale industries in economic growth.

• It paved the way for further expansion of the public sector, culminating in the comprehensive 1956 resolution.