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Which among the following were the goals of industrial policy resolution, 1948?
1. India will be a mixed economy.
2. There was a five year period for review of the policy.
3. Industries which were not covered by either the central or the state list were left open for private sector investment.
Which of these statements is/are correct?
  • a)
    1 and 2 Only
  • b)
    2 and 3 Only
  • c)
    1 and 3 Only
  • d)
    All of them
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Which among the following were the goals of industrial policy resolut...
There was a 10 year period for review of the policy.
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Which among the following were the goals of industrial policy resolut...
The Industrial Policy Resolution of 1948 was a landmark policy document in India's economic history. It aimed to lay down the guidelines for the development of industries in the country. The main goals of the policy were:

1. Mixed Economy: The policy envisaged a mixed economy, where both the public and private sectors would coexist and contribute to the growth of industries. The private sector was encouraged to invest in industries that were not reserved for the public sector.

2. Five-year review period: The policy had a provision for a five-year review period, during which the government would assess the progress made in the implementation of the policy and make necessary changes.

3. Openness to private sector investment: Industries that were not covered by either the central or state list were left open for private sector investment. This was aimed at encouraging private investment in industries that were not reserved for the public sector.

Therefore, the correct answer is option 'C' - 1 and 3 only.
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Which among the following were the goals of industrial policy resolution, 1948? 1. India will be a mixed economy.2. There was a five year period for review of the policy.3. Industries which were not covered by either the central or the state list were left open for private sector investment.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'C'. Can you explain this answer?
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