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Consider the following statements and identify the right ones.
i. As per the 1948 policy, six industries were under the mixed sector
ii. New units could be set up by the private sector
  • a)
    i only
  • b)
    ii only
  • c)
    both
  • d)
    none
Correct answer is option 'A'. Can you explain this answer?
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Consider the following statements and identify the right ones.i. As pe...
Only public sector could set up new units. The existing private ones were allowed for 10 years.
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Consider the following statements and identify the right ones.i. As pe...
Understanding the 1948 Policy on Mixed Sector Industries
The 1948 policy regarding mixed sector industries in India is a significant part of the country’s industrial development strategy. Let’s break down the statements provided:
Statement I: Six Industries in the Mixed Sector
- The 1948 policy indeed classified certain industries under the mixed sector.
- These industries were a blend of public and private sector participation.
- The six key industries listed included sectors critical to the economy, such as defense and heavy machinery.
Statement II: New Units by the Private Sector
- This statement is correct as well.
- The policy allowed the private sector to set up new units in the mixed sector, facilitating entrepreneurship and investment.
- This strategic inclusion aimed to promote growth, competition, and technological advancements in various industries.
Correct Answer Explanation
- Both statements are accurate, but the question specifically asks for the right ones.
- Since statement I mentions the six industries but does not specify which ones, it lacks completeness.
- Thus, statement II stands out as a clear and affirmative point.
Conclusion
- Given the accuracy of statement II and the partial nature of statement I, the correct choice is option 'A' (i only).
- This understanding reflects the balance the 1948 policy sought between public enterprise and private initiative, forming the foundation of India’s mixed economy approach.
By analyzing these statements, we can appreciate the historical context and implications of the 1948 policy on India's industrial landscape.
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