Licence Raj

(redirected from Permit raj)

Licence Raj

A term used to describe the regulation of the private sector in India between 1947 and the early 1990s. In India at that time, one needed the approval of numerous agencies in order to set up a business legally. Manufacturing in particular was heavily regulated. The Licence Raj was the result of a mixed economy that used a government planning commission established after India's independence. The Licence Raj was largely successful in the 1950s and after, but eventually led to low rates of growth and investment. India began to liberalize its economy in the 1980s, ending the Licence Raj.
References in periodicals archive ?
Remember, the licence permit raj persisted precisely because some industries were favoured over others in the so- called national interest," he observed.
It is at that stage that the World Bank came to India's rescue imposing conditions that were meant to say "good bye" to the licence permit raj and open up India economy.
First, they left untouched a number of areas such as higher education, where the License Permit Raj continued and significant rent-seeking persisted.
The licence permit raj has shrunk in area, but become far more profitable.
While regulations on foreign currency transfers and movement of capital are nowhere near as restrictive as they were in the days of the Permit Raj, it is still best to take expert advice well before taking the plunge.
The decision will permit Raj and Shahana Hashmi of Leeds, England, to create a donor sibling for their 6-year-old son, Zain, who suffers from a potentially fatal blood disorder.
We have now got rid of the licence permit raj, we have opened up foreign investment.
The coming to an end of the Licence Permit Raj and its impact on the Members of Parliament created an atmosphere conducive to the introduction of the scheme in 1990.
Why did you allow this practice of licence permit raj to return through the back door by granting precious and scarce national resources through discretionary allotments?
From a bureaucratic city that derived its power and prestige entirely from the levers of authority it controlled in the dark days of the licence- permit raj, it has become a nursery of entrepreneurship, a gene pool of transformative ideas, and a powerhouse of creative talent.
India's growth rate has been slipping and is perhaps fast heading for what was known as the "Hindu" rate of growth during the licence permit raj era.
Manmohan Singh, on Sunday said a major challenge ahead is to put in place a legal and regulatory framework which is effective in protecting the environment, but without bringing back the hated license permit raj of the pre-1991 period.