The second five-year plan gave high priority to industrial development aimed at setting up a number of heavy industries such as steel plants, capital goods industries, etc., for which direct government participation and state involvement was needed and hence the was launched.

Correct option is C

The correct option is (C)  Industrial Policy Resolution 1956

• The Industrial Policy Resolution of 1956 (IPR 1956) was a detailed plan for India's industrial growth, approved by the Indian Parliament in April 1956. It was the second major policy statement on industrial development, following the Industrial Policy of 1948. 
•  Industrial Policy Resolution of 1956 had several key features categorizing industries, promoting industrialization, promoting regional equality, expanding the public sector, preventing private monopolies. 

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Industrial Policy Statement 1980

• The 1980 Industrial Policy focused on modernizing industries, improving technology, and boosting competition.
•  Industrial Policy Statement 1980 had key features like liberalization, competition, foreign investment, infrastructure development, socio-economic goals, industrial peace, fair distribution.

Industrial Policy Statement 1977

• The Industrial Policy Statement of 1977 was an important policy aimed at boosting India's industrial growth and self-reliance. It was introduced by the Janata Government under Morarji Desai on December 23, 1977.
  
• The Industrial Policy Statement of 1977 had main objects like decentralization, small and medium enterprises, indigenous technology, labor-intensive industries, balanced regional development, restrictions on foreign investments.

Industrial Policy Resolution 1948

•  Industrial Policy Resolution 1948 was the first industrial policy of independent India.​