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Which Industrial Policy Resolution gave the public sector a strategic role in the Indian economy?
Industrial Policy Resolution 1950
Industrial Policy Resolution 1948
Industrial Policy Resolution 1952
Industrial Policy Resolution 1956
None of the above
Industrial Policy Resolution 1956
Remember the sequence: 1948 was the first (Mixed Economy approach), while 1956 is known as the 'Economic Constitution of India' emphasizing the commanding heights of the public sector.
Identification of the specific Industrial Policy Resolution that designated a strategic role for the public sector in the Indian economy.
Strategic┬аPublic┬аSector┬аRole=IPR┬а1956
Remember the sequence: 1948 was the first (Mixed Economy approach), while 1956 is known as the 'Economic Constitution of India' emphasizing the commanding heights of the public sector.
Many students confuse 1948 with 1956; 1948 established the mixed economy model, whereas 1956 explicitly defined the public sector's leading role in industrial development.
Analyze the IPR timeline
The Industrial Policy Resolution of 1948 was the first, focusing on the basics of a mixed economy, while the 1956 resolution aimed for rapid industrialization.
IPR1948тАЛюАа=Strategic┬аDominance
Identify the mandate of IPR 1956
IPR 1956 classified industries into three schedules (A, B, and C), giving the state (public sector) exclusive responsibility for new units in schedule A industries.
Strategic┬аRole=Schedule┬аA┬аIndustries┬а(State┬аOwned)
Verify with historical context
Because IPR 1956 served as the backbone for the Second Five Year Plan, it is historically recognized for giving the public sector a strategic, 'commanding heights' role.
Correct┬аChoice=IPR┬а1956
D is correct because the Industrial Policy Resolution of 1956 is widely recognized for establishing the public sector's strategic leadership in India's industrialization.
This concept frequently overlaps with questions about Mahalanobis model, as the IPR 1956 and the Second Five Year Plan share the same emphasis on heavy industry growth.
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