GENERAL KNOWLEDGE

Detailed explanation-1: -It aimed at improving the coordination between the public and the private sector to achieve the goal of rapid industrial development by working together. This revolution provided more powers to the governmental machinery and laid down the foundation for India’s second five-year plan.

Detailed explanation-2: -Industrial Policy Resolution of 1956 (IPR 1956) is a resolution adopted by the Indian parliament in April 1956. According to this resolution, the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery.