Discuss the principal components of Industrial Policy Resolution, 1956.
Download our app for free and get started
The principal components of IPR 1956 were:
- Three fold classification of industries:
- Industries exclusively owned by the state.
- Industries in which private sector could supplement the efforts of the state sector
- Remaining industries were to be in the private sector: Industrial licensing: This policy was used to promote industry in backward regions, i.e., to promote regional equality. No new industry could operate without a license obtained from the government.
- Private entrepreneurs were offered many incentive: Like tax relief, electricity at a lower tariff, etc., to establish their industry in the backward regions of the country.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionHow did government ensure that the small farmers also benefit from the Green Revolution as the rich farmers?
- 2View SolutionExplain the policy of protection in industries.
- 3View SolutionWhat is Planning Commission? What are its functions?
- 4View SolutionWhy does Indian planning place more emphasis on industrial development?OR
In industrial development in India government played a leading role. Why? - 5View SolutionIndustrial sickness is a major area of concern for our country. Enumerate the various causes of industrial sickness.
- 6View SolutionWhat were the main shortcomings of IPR 1956?
- 7View SolutionIs it essential that growth in agricultural output leads to growth of the economy? Give reasons for your answer.
- 8View SolutionIs GNP a good indication of a country's growth?
- 9View SolutionFor which contribution is P.C. Mahalanobis regarded highly by statisticians and economists all over the world?
- 10View SolutionWhy do small scale industries need protection by the government?