WBCS.LIVE practice question

The 'First Industrial Policy Resolution' of independent India was announced in:

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 1947
  2. 1948
  3. 1956
  4. 1991

Correct answer and explanation

Correct answer: 1948

Explanation: āœ… Correct Answer: (B) 1948 šŸ“š Explanation: The first Industrial Policy Resolution was announced on April 6, 1948, by then Industry Minister Syama Prasad Mookerjee. It laid the foundation for a 'Mixed Economy' model in India, where both the public and private sectors would coexist. This policy divided industries into four categories and established that the government would have a monopoly in strategic sectors like atomic energy and railways. It was later replaced by the more comprehensive 1956 policy.