The correct answer is (b). The Industrial Policy Resolution of 1956 was a major policy statement by the Government of India on the development of the country’s industrial sector. The resolution laid out a three-tier industrial structure, with the public sector playing a leading role in the development of basic and heavy industries, the private sector being encouraged to develop medium and small-scale industries, and the cooperative sector being given a role in the development of village and small industries. The resolution also introduced a system of licensing for new industrial undertakings, which was designed to regulate the growth of the industrial sector and to ensure that it developed in a planned and orderly manner.
The other options are incorrect. The Industrial Policy Resolution of 1948 was a much less comprehensive document than the 1956 resolution, and it did not contain any provisions for licensing. The Congress Party Resolution of establishing socialistic pattern of society was a political statement, not an economic policy statement, and it did not have any direct bearing on the licensing policy for industries. The Industries Act 1951 was a law that provided for the establishment of the Industries Development and Regulation Board (IDRB), which was responsible for administering the licensing system. However, the IDRB was not established until 1958, two years after the Industrial Policy Resolution of 1956 was issued.