IPR 1956, is one of the major terminologies used in "Economics". According to you, which of the following is the correct full form of the same?
Answer & explanation
Correct answer: option 4
IPR 1956 stands for "Industrial Policy Resolution" which categorized industries into three categories. The first category comprised industries which would be exclusively owned by the government; the second category consisted of industries in which the private sector could supplement the efforts of the public sector, with the government taking the sole responsibility for starting new units; the third category consisted of the remaining industries which were to be in the private sector.