State the salient features of 1956 Industrial Policy Resolution. How far the Objectives of office policy could be achieved.
The 1956 Industrial Policy Resolution was a landmark declaration in the history of India's economic development. It set the stage for the industrialization of the country post-independence, focusing on creating a self-sustained economy while ensuring balanced regional growth and equitable distribution of wealth. The policy's salient features and its capacity to achieve its objectives need to be understood in the context of the economic environment of the time.
### Salient Features of the 1956 Industrial Policy Resolution:
1. Public Sector Leadership:
One of the most important features of the 1956 policy was the emphasis on the public sector's leading role in industrial development. The policy designated certain industries as the exclusive domain of the public sector, ensuring that key sectors like defense, heavy industry, energy, and transportation remained under state control. This was done with the intention of providing the necessary infrastructure and capital for industrial growth, which could not be achieved by the private sector at the time due to a lack of resources.
2. Classification of Industries:
The policy categorized industries into three broad groups:
- Schedule A: Industries exclusively under the public sector. These included sectors such as atomic energy, arms and ammunition, and railways.
- Schedule B: Industries in which the public sector was encouraged to take the lead, but private enterprises were also allowed to _______ ____ _____ _______ _______ ________ _____ ____.
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