New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    What was the main objective of the Industrial

    (Development and Regulation) Act, 1951 in India?
    A To regulate the development and growth of key industries Correct Answer Incorrect Answer
    B To nationalize all industries in the country Correct Answer Incorrect Answer
    C To promote foreign investment in the Indian industries Correct Answer Incorrect Answer
    D To encourage competition among industries in the country Correct Answer Incorrect Answer

    Solution

    The Act provided for the regulation of the manufacturing, production, and distribution of goods in industries that were deemed to be of national importance. The main objective of the Act was to ensure that these industries developed in a planned and controlled manner, and that they contributed to the overall economic growth of the country.

    Practice Next

    Relevant for Exams: