Licence Raj


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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 ?
The economic culture of licence raj and permit raj had struck at the heart of individual ambition.
Frustrated with the licence raj regime and the constraints of raising capital in India, Agarwal had earlier moved to London, where the world's largest mining and metals companies were headquartered.
In such circumstances, Singh decided to reject the licence raj and introduced the reforms, which have consequently transformed the lives of millions of Indian citizens.
Licence raj has been dismantled and the next level of competence should be process and governance reforms." Legislation, he argued, is the bedrock of a parliamentary democracy, but the fragmentation of polity and rise of regionalism mean that Bills get stuck.
In such circumstances, Singh decided to reject the licence raj and introduced reforms, which have consequently, transformed the lives of millions of Indian citizens.
Shackled by economic restrictions imposed by the licence raj until 1991, India was just about waking up to a new kind of freedom then.
Drawing attention to the view that environmental clearances have become a new form of Licence Raj and a source of corruption, he said that this is a matter that needs to be addressed head-on.
" The issue was about licence raj and taxi permits was an off- the- cuff remark," the source added.
When the ministry mooted this move, skeptics said this was a plan to bring in ' licence raj'.
We are not trying to bring in licence raj but just trying to ensure sports promotion happens correctly," said an official source.
Businesses were governed by the licence raj, where the government would select five to six companies to make or sell in any segment.
Our manifesto is aimed to turn the tide on all such ills, to bring growth, development of the infrastructure, end licence raj and usher in prosperity in the North-East," Naqvi said.