Briefly compare the industrial policy of 1948 and industrial policy of 1956. Ans. Both the policies indicate the relative importance and responsibility of public sector and private sector towards industries. Both the policies are important for the industrialization of the country.

Industrial Policy of 1948

Industrial Policy of 1956

1. Scope of Public Sector was limited in industrial policy of 1948.

2. The policy divided the industries into four categories.

3. This policy declared that basic industries will be nationalised after ten years.

4. This policy was against the interest of private sector.

5. This policy strictly divided the industries.

6. This policy did not give any stress on the cooperative sector.

1. Scope of Public Sector was wide in industrial policy of 1956.

2. This policy divided the industries into three categories.

3. This policy did not give any declaration regarding the nationalisation of basic industries.

4. This policy gave the reasonable extension of private sector.

5. This policy divided the industry but not strictly.

6. This policy gave stress on the co-operative sector.