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Indian Economy 1950-1990 — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIndian Economy 1950-19903 Marks
Question
How was the licensing policy misused by some industrial houses?
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Answer

The need to obtain a license to start an industry was misused by some industrial houses. The big industrial houses would get a license not for starting a firm but to prevent competitors from starting new firms. The excessive regulation of what came to be called 'Permit License Raj' prevented certain firms from becoming more efficient.

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