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How was the licensing policy misused …

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How was the licensing policy misused by some industrial houses?

Posted by Dimple Grover 4 years, 7 months ago

CBSE > Class 12 > Economics

2 answers

Gaurav Seth 4 years, 7 months ago

The license policy was misused by the big industrialists. It was found that often the industrialists obtained licenses not for starting a new firm but in order to prevent the competitive firms from entering the market. Moreover, the licensing system was inefficient and corrupted. Huge time and effort of the industrialists was lost in obtaining the licenses.

0Thank You

Yogita Ingle 2 years, 10 months ago

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CBSE > Class 12 > Economics