The Industrial Policy of 1948 has ________ld classification of industries in India.

Correct option is B

The Industrial Policy of 1948 classified industries into three categories based on the degree of state ownership and control:

1. Public sector industries: Exclusive monopoly of the state (e.g., arms, railways).
2. Mixed sector industries: Joint operation by the state and private entities.
3. Private sector industries: Open to private entrepreneurs, with state regulation.

Information Booster

1. It was the first industrial policy post-independence, laying the groundwork for economic planning.
2. Focused on self-reliance and socio-economic equity.
3. Highlighted the role of the state in infrastructure and strategic sectors.
4. Emphasized labour welfare, balanced regional development, and industrial licensing.
5. Influenced subsequent policies, including the Industrial Policy Resolution of 1956.
6. It aimed to foster a mixed economy, blending socialism and free enterprise.

Additional Knowledge

• Two categories: Not relevant to the 1948 policy.
• Four categories: Introduced in later policies for finer distinctions.
• Five categories: Not applicable to the 1948 policy.
• The Industrial Policy of 1948 emphasized state control over heavy industries and the private sector's role in consumer goods.