Why did the government play an extensive role in promoting the industrial sector in India?
Answer & explanation
Correct answer: option 4
The correct answer is Option 3: Both 1 and 3
At the time of independence, Indian industrialists did not have the capital to undertake investment in industrial ventures required for the development of Indian economy; nor was the market big enough to encourage industrialists to undertake major projects even if they had the capital to do so. It is principally for these reasons that the erstwhile governments had to play an extensive role in promoting the industrial sector.