Under Industrial Policy Resolution 1956, how many industries were included in the 'Schedule B' category?

Correct option is A

Under the Industrial Policy Resolution (IPR) of 1956, 12 industries were included in the 'Schedule B' category. These industries were considered important for national development and were planned to be progressively state-owned, while also allowing participation from the private sector. The inclusion of these industries aimed to balance public and private enterprises, thus working towards a socialistic pattern of society.

Information Booster

1. Schedule A: Reserved exclusively for the public sector, included 17 industries, such as atomic energy, arms and ammunition, railways, and iron and steel production.
2. Schedule B: Covered 12 industries, including fertilizers, heavy machinery, and road transport, to be managed jointly by the public and private sectors.
3. Schedule C: Consisted of all other industries that were open to private investment.
4. The policy aimed to promote equitable industrial development and reduce regional economic disparities.
5. Emphasized building a strong foundation for basic and heavy industries.
6. Marked a pivotal shift towards state-led industrialization with a focus on self-reliance.

Key Point

The Industrial Policy Resolution of 1956 set the foundation for the public sector's dominance in India and aimed at achieving balanced and inclusive industrial growth.