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Another main characteristic of the Licence Raj was heavy regulation on industry. Legislation to regulate industry started with the Industrial Development Regulation Act of 1951, which laid out licensing restrictions on industries it designated as Schedule I which included industrial machinery, telecommunications, and chemical manufacturing. [25]
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.
Another key prospect of the 1991 policy was to end "red-tapism" which was known as Industrial licensing, wherein the requirement to get a license to start a private sector industry was abolished. Thereby, cutting down unnecessary delays in establishing an industrial unit by any private entity. [7]
1.1 Industrial licensing is compulsory for the following industries. 2 Comprehensive list of industry ... Drugs and Pharmaceuticals (according to Drug Policy)
The Possum Pie is the Natural State's signature dessert with an animal in its name but not in the ingredients. Fox News Digital spoke to an Arkansas baker who describes what's actually in it.
Events in the year 1991 in the Republic of India. The year 1991 was a watershed moment in the history of Economy of India . It was the year in which India formally announced its shift towards Liberalization , Privatization and Globalization from hitherto existed Mixed economy that was predominantly a Planned economy .
Zooey Deschanel is a fun and festive mom! The actress, 44, attended an event for The Simpsons’ latest holiday special, "O C’mon All Ye Faithful," on Friday, Dec. 13, when she was accompanied ...
From January 2008 to December 2012, if you bought shares in companies when Douglas W. Leatherdale joined the board, and sold them when he left, you would have a -5.2 percent return on your investment, compared to a -2.8 percent return from the S&P 500.