Practicing Success
Practicing Success
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| As per Industrial Policy Resolution of 1956, under what conditions was a license granted for expanding production in an existing industry? |
If the government required a larger quantity of goods. If the industry belonged to the public sector. If the industry had demonstrated high profitability. If the private sector was willing to collaborate with the government. |
| If the government required a larger quantity of goods. |
| As per the Industrial Policy Resolution of 1956, even an existing industry had to obtain a license for expanding output or diversifying production. This license was granted by the government only if it was convinced that there was a need for a larger quantity of goods in the economy. This measure ensured that production was aligned with the requirements of the economy. |
