In which year was the first Industrial Policy based on the mixed economy principle announced in India?

This question was previously asked in
SSC CPO Previous Paper 31 (Held On: 12 Dec 2019 Shift 2) 
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  1. 1959
  2. 1948
  3. 1950
  4. 1962

Answer (Detailed Solution Below)

Option 2 : 1948
Free
SSC CPO : General Intelligence & Reasoning Sectional Test 1
50 Qs. 50 Marks 35 Mins

Detailed Solution

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In 1948 the first Industrial Policy was presented in the parliament by then Industry Minister Dr. Shyama Prasad Mukherjee.

  • The policy properly has a demarcation between the areas of operation vis-a-vis the private and public sectors in the country.
  • Indian economy is called a mixed economy.
  • When a system combines aspects of both capitalism and socialism it is called a mixed economy.

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