What was the central theme of the Industrial Policy Resolution of 1956?
State control of commanding heights of the economy
The Industrial Policy Resolution of 1956 was a landmark policy statement that shaped India's approach to industrial development in the years following independence.
Its central theme was establishing state control over the commanding heights of the economy, classifying industries into categories where the public sector would have exclusive responsibility, joint responsibility with the private sector, or industries left to private enterprise, with strategic and basic industries reserved predominantly for the state.
This policy reflected India's socialist pattern of society goal, and was not aimed at full privatisation, an import-led growth strategy, or a primary focus on consumer goods, all of which run counter to the resolution's emphasis on public sector dominance in core industries.
Hence, the answer is state control of commanding heights of the economy.
The Five Year Plan was first launched in
Which of the following was/were the feature(s) of Lenin’s New Economic Policy (NEP) for the Soviet Union?
1) Private retail trading was strictly forbidden
2) Private enterprise was strictly forbidden
3) Peasants were not allowed to sell their surplus
4) To secure liquid capital, concessions were allowed to foreign capitalists, but the State retained the option of purchasing the product of such concerns
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Which one of the following was set as a target of average growth of GDP of India over the plan period 2012-2017 by the Approach Paper to the Twelfth Five year Plan?
In ________ economies, all productive resources are owned and controlled by the government.
Private ownership of the means of production is a feature of a _______ economy.