Introduction:

Industrial policy is a statement of the government which contains guidelines for the establishment and development of new industries and controls and regulation for the working and the management of the existing industries. The first industrial policy resolution was issued by the government of India on April 6 1948. Industrial policy resolution 1956 salient feature of the industrial policy resolution 1956 were. The Industrial policy 1956 is as follow. The policy laid down three categories of industries in three schedules.

The Industrial Policy Resolution of 1956 was a landmark policy document in India, aimed at shaping the country’s industrial growth. Building on the previous Industrial Policy of 1948, the 1956 policy emphasized a stronger role for the public sector and outlined a vision for a mixed economy where both public and private sectors would play significant roles in industrial development.

Industrial Policy 1956:

Schedule A consisted of 17 industries which were the exclusive responsibility of the state they are,

• Arms and ammunition
• Atomic energy
• Iron and steel
• Heavy castling and forgoing of iron and steel
• Heavy machinery and tools
• Heavy electrical plant
• Coal and lignite
• Mineral oils
• Mining of ores of iron, manganese, Chrome, gypsum, Sulphur, gold and diamonds
• Mining and process of copper lead zinc tin Etc.
• Minerals
• Aircraft
• Air transport
• Railway transport
• Ship building
• Telephone
• Electricity

Schedule B consisted of 12 industries which were progressive state owned they were.

• All other minerals
• Aluminum and other non ferrous metals
• Machine tools
• Ferro alloys and tools and steels
• Products required for chemical industries
• Antibiotic and other essential drugs
• Fertilizers
• Synthetic rubber
• Carbonization of coal
• Chemical pulp
• Road transport
• Sea transport

Schedule C include all other remaining or residual industries left to the private sector

• Fair and non discriminatory treatment for the private sector
• Encouragement of village and small scale enterprises
• Removing regional disparities
• Provision of managerial and technical personal
• Provision of amenities and incentive to labor
• Positive attitude to foreign capital
• Providing the efficient management of public sector enterprises.

The Government of India adopted new industrial policy statement on February 2 1973 amending the 1956 resolution by accepting the proposal of the Dutt committee for setting up the joint sector but the basic structure of 1956 resolution was kept intact. The government prepared a list of 19 industries who’s development was a fundamental importance to the country the industries are open to MRTP and FERA companies.

also read: explain the importance of industrialization in India.