The correct option is 2 and 3 only.
Explanation
The Industrial Policy Resolution (IPR) 1956 is often regarded as the "Economic Constitution of India." It was adopted to achieve the objective of a "socialist pattern of society" and laid the foundation for the state's dominant role in industrial development.
Statement-wise Analysis:
- Statement 1 is Incorrect. The IPR 1956 formed the basis of the Second Five Year Plan (1956-1961), which focused on rapid industrialization and the development of heavy industries (the Mahalanobis Model). The First Five Year Plan (1951-1956) was primarily focused on agriculture and was based on the Harrod-Domar model.
- Statement 2 is Correct. The IPR 1956 classified industries into three categories:
- Schedule A: 17 industries exclusively owned by the state (e.g., arms and ammunition, atomic energy, railways).
- Schedule B: 12 industries where the state would take the initiative in establishing new units, but the private sector was expected to supplement the effort.
- Schedule C: All remaining industries left to the private sector, though subject to state regulation and licensing.
- Statement 3 is Correct. The resolution was designed to ensure that the state controlled the strategic sectors or the 'commanding heights' of the economy. This approach was intended to prevent the concentration of wealth and economic power in private hands while accelerating economic growth through public sector leadership.
Key Takeaway:
The Industrial Policy Resolution 1956 operationalized the goal of a "socialist pattern of society" by reserving strategic industries for the public sector and serving as the blueprint for the Second Five Year Plan.