Industrial Policy Resolution
The Industrial Revolution was the transition to new manufacturing processes that occurred in the period from about 1760 to some time between 1820 and 1840.
Industrial Policy Resolution of 1956 (IPR 1956) is the resolution adopted by the parliament of India in April 1956
1. First IPR was drafted in 1948.It was step forward to be taken by the government to remedy the hurdles in the way for state management and ownership of Industries. This IPR was in raw form
2. During a period 1949-50 social list ideology was adopted
3. India get Independence in 1950 and India have its own constitution, the first IPR was made in 1951-56.However, in between changes were made in the year 1954
4. New Ideas were came out in 1956 by Jawarhlal Nehru, which was a remarkable point in the history.
5. In 1956 IPR emphasis was upon the speedy decision and willing to assume responsibility, which are essential in this enterprise to succeed.
6. During Third five year plan, Congress took over the center and was successful in leading the Highest population of india and slow decision and low risk
7. However it was in 1978, BJP took over the Power and start taking speedy decision. This bring a immediate turn in the Economy of India and government fail to prove
8. In 1980, our foreign exchange hit the bottom and we are forced by IMF to bring economic reforms in India in 1990
9. In 1980, Indira Gandhi took over the power and again IPR planning was formulated based upon 1956 Ideology of Nehruji.
10. 1980 IPR- It was based upon to launch a drive to restore the efficency, take efficently steps to build up public sector
11. In 1990 we adopted the economics reforms LPG policy and 29 reserved industries were reduced to 3 in 2001.
12. Then LPG policy was implemented and india allow the privatization in the economy.