What are the main features of Industrial Policy Resolution 1956?

Solution

The main features of Industrial Policy Resolution 1956 can be identified as follows:
(1) Categorization of industries in three schedules:

Schedule A : Industries were made the exclusive responsibility of the states.

Schedule B : Industries were to be progressively state owned.

Schedule C : Industries were left open to private enterprise.

2. Due to the significance of cottage and small scale industries in the Indian economy, the state was bound to promote the use of these industries.

3. Emphasis was laid on removal of regional disparities.

4. Training of technical and managerial personnel was to receive special attention.

5. Provision of improved living and working conditions to workers was emphasised.

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