Correct Answer: The assertion is true, but the reason is false.

Solution : The correct answer is (c) The assertion is true, but the reason is false.

The assertion is true. The Industrial Policy Resolution of 1956 in India did aim to promote the development of large-scale industries. The resolution emphasized the role of the public sector in establishing and growing key industries in the country. It sought to give a leading role to the state in guiding industrial development and building a socialistic pattern of society.

However, the reason provided is false. The resolution did not primarily emphasize the regulation and control of private industries to ensure balanced industrial growth. While it did recognize the role of the private sector in industrial development, its main focus was on promoting the growth of the public sector and state-led industrialization. The policy sought to establish a mixed economy where both public and private sectors coexist, but it did not heavily emphasize the regulation and control of private industries.

Therefore, the correct answer is that the assertion is true, but the reason is false.