State the salient features of 1956 Industrial Policy Resolution

The Industrial Policy Resolution of 1956 was a landmark policy document in the economic history of independent India. Enacted by the Government of India under Prime Minister Jawaharlal Nehru, it laid down the framework for the industrial development of the nation. This policy aimed to foster rapid industrialization while ensuring that the benefits of industrial growth were equitably distributed across society. The salient features of the 1956 Industrial Policy Resolution are as follows:

1. Mixed Economy Framework: The 1956 Industrial Policy Resolution embraced the concept of a mixed economy, wherein both the public and private sectors coexist and contribute to economic development. It emphasized the role of the state in guiding industrial development while allowing for the participation of private enterprises in certain sectors.

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