The Industrial Policy Resolution, 1956 has categorized industries on the basis of ownership. Discuss.
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According to the Industrial Policy Resolution, 1956, industries were classified into three categories on the basis of ownership:
- The first category consisted of industries which could be established and developed exclusively as public sector enterprises.
- The second category consisted of industries which could be established both as public sector enterprises and private sector enterprises, with private sector being given a secondary role.
- The third category consisted of all industries other than those specified in the above categories and was open for private sector.
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