Industrial Polices Industrial policy resolution of Industrial policy resolution of Industrial policy resolution of Industrial policy resolution of Industrial policy resolution of Industrial policy resolution of Industrial Policy Resolution As the Indian system incorporated the concept of a mixed economy, the Industrial Policy Resolution adopted in emphasised that both the public sector and private sectors would function in their respective spheres. All the key industries were to be under the control of the central government. The public sector had control over arms and ammunitions, the production and control of atomic energy, railways etc. which were to be the exclusive monopoly of the central government.
The state also had control over ( coal, iron and steel, aircraft manufacturing, ship building etc.. Private enterprises and the cooperatives managed the remaining industries. Industrial Policy Resolution A new industrial policy was formulated and was adopted in April . As per this policy, three categories of industries were specified.
There were industries which were totally controlled by the state, industries which were owned by the state and the private enterprises which could supplement in the management of such industries and the third category of industries were those which were exclusively managed by the private enterprises. The industries of the private sector were to be encouraged by the state by improved systems of transport, power sector and other services. The small scale industries and cottage industries were also to be encouraged by the state. Industrial Policy, An industrial policy was announced by the congress government in July .
It stressed on a pragmatic approach towards development acknowledging the Industrial Policy Resolution of . It emphasised on an integrated industrial development with setting up of nucleus plants in industrially backward regions. Small scale units and cottage industries were to be started which could function more effectively using improved technology. It aimed at promoting a concept of economic federalism.
The industrial policy of made considerable changes by bringing about a liberalised licensing policy by which the large undertakings were much