Hi friends, in today’s article we are going to know about Industrial Policy Resolution 1956. So let’s discuss in details.
Table of Contents
Industrial Policy Resolution 1956
As 1948 industrial policy had fail to accelerate industrial growth rate, Indian economy had to face a series of economic and political changes. Depending on the socialistic pattern of society, the Indian govt. had introduce industrial policy resolution on 30th April, 1956.
The major important provisions of this policy can be stated as follows –
• Industrial Classification – The new industrial policy had laid down three categories of industries which are –
- Schedule A, where exclusive responsibilities of industries were taken by the state. Such industries include arms and ammunition, iron and still, heavy machinery, mineral oils, etc.
- Schedule B, where responsibility of industries are progressively state owned. Such type of industries include 12 industries like fertilizers, antibiotics and other essential druks, roads, transport, sea transport etc.
- Schedule C, where responsibility of industries and their future development were left to the private sector.
• Fair and non-discriminatory Treatment – The industrial policy 1956 had provided fair and non-discriminatory services to the Indian private sector industries. The govt. had facilitated and encouraged private sector by ensuring improved infrastructural facilities.
• No water tight Department – The new industrial policy 1956 had not placed all the 3 classification of industries in water tight compartments. It implies that all the classifications were remained open where the state can start any industry in schedule C or even in schedule A in appropriate cases.
• Encouragement to village and small scale Industries – The govt. had continued to support cottage and small scale industries by restricting production of large scale industrial units. It was done by the scheme, providing subsidies and improving techniques of product.
• Removing regional Disparities – The new industrial policy 1956 has major important objective to removed the regional imbalances. In order to secure a balanced developed, this policy had emphasized to improved living standard of people of the country.
• Labour Amenities –The resolution had recognized the importance of labour. This policy had stressed the need for improving the living and working conduction of worker and for raising their efficiency level.
• Attitude towards foreign Capital – This policy, 1956 had recognized the importance of foreign capital. This policy had also given clear assurance for the safety and profit facilitating invention for foreign investors.
Criticisms of Industrial Policy 1956
But the new industrial policy 1956 has failed to provide effective results. The major demerits of this industrial policy 1956 can be stated as follows –
(i) The new industrial policy had failed to create huge important opportunities for the unemployed person in India.
(ii) There exists huge interpersonal inequalities problem even if industrial policy resolution 1956 was adopted.
(iii) Though this policy had made provisions for amenities for labour, yet the workers class are exploited by the industrialist. As a result of it, the living standard of the workers are remained poor.
So friends, this was the concept of industrial policy resolution 1956. Hope you get the full details about it and hope you like this article.
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