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Industrial Policy Resolution of 1956 (IPR 1956) is a resolution adopted by the Indian parliament in April 1956. It was the second comprehensive statement on industrial development of India after the Industrial Policy of 1948. [1] The 1956 policy continued to constitute the basic economic policy for a long time.
Next, the Industrial Policy Resolution of 1956 extended these restrictions by designating certain industries known as Schedule A to be exclusively under state control, and certain other industries under Schedule B to be majority state-owned. [26] Industries in Schedule A included defense production, metallurgy, mining, and transportation. [27]
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.
He believed that the establishment of basic and heavy industry was fundamental to the development and modernisation of the Indian economy. India's second five year plan (1956–60) and the Industrial Policy Resolution of 1956 emphasized the development of public sector enterprises to meet Nehru's national industrialisation policy.
Meeting the demands of industrial policy’s resurgence will necessitate reimagining how these institutions collaborate to create intentional, sector-specific training opportunities for workers.
A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of industrial policy. [6] Industrial policies are interventionist measures typical of mixed economy countries. Many types of industrial policies contain common elements with other types of interventionist practices such as trade ...
All those who are going to be crushed by the falling pieces will wish they had compromised earlier, worked toward a coherent industrial policy, and stopped believing in the myth of free trade.
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