Industrial Policy 1958
A new industrial policy was announced on 30th April, 1956. The main features of this Industrial Policy Resolution were as follows:
A. Classification of Industries: Industries were classified into three types which are indicated below:
a. Schedule A contained 17 industries. All new units in these industries, where their establishment in the private sector has already been approved, would be set up only by the state.
b. Schedule B contained 12 industries. Such industries would be progressively state owned, but private enterprise is expected to supplement the efforts of the state in these fields.
c. The remaining industries fell in Schedule C category. The future development of these industries had been left to the initiative and enterprise of the private sector.
B. Assistance to Private Sector
C. Expanded Role of Cottage and Small Scale Industries
D. Balanced Industrial Growth among various Regions.
E. Role of Foreign Capital
F. Development of Managerial and Technical Cadres
G. Incentives to Labour