With reference to the Industrial Policy Resolution of 1956 (IPR 1956), consider the following statements: 1. It classified industries into three categories based on ownership and control. 2. The government would exclusively own and operate industries categorized under the first category. 3. The private sector was completely free to start new industries without any government regulation. Which of the statements given above is/are correct? |ForumIAS

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2, and 3

Answer: A

Notes:

Explanation:

IPR 1956 classified industries into three categories.
Some industries were to be exclusively government-owned.
Private sector activities were regulated through licenses; they were not completely free.

Source- 12th NCERT: Economics: Macroeconomics

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