Explanation:

- The Industrial Policy Resolution classifies industries to outline strategic development.

- Option 1: Two Categories – It's not correct as industries are classified into more than two categories.

- Option 2: Three Categories – Correct Answer. Industries are categorized into three parts:

1. Schedule A: Industries exclusively controlled by the state.

2. Schedule B: Industries with a mix of state and private participation.

3. Schedule C: Industries open to private ownership with minimal state control.

- Option 3: Four Categories – Incorrect, as the resolution outlines three specific categories.

- Option 4: Five Categories – This is incorrect for the same reason.