Question : The 'License Raj' in India refers to:
Option 1: The system of obtaining licenses for industrial activities
Option 2: The system of licensing journalists
Option 3: The system of licensing foreign tourists
Option 4: The system of obtaining licenses for agricultural activities
Correct Answer: The system of obtaining licenses for industrial activities
Solution : The correct answer is (a) The system of obtaining licenses for industrial activities
The 'License Raj' in India refers to the system of obtaining licenses for industrial activities. During the period of economic regulation and control in India, which lasted from the 1950s to the 1990s, the government implemented a complex system of licenses and permits for industrial activities. This system involved extensive government intervention and control over the private sector, including regulations on investment, production, pricing, and capacity expansion. The 'License Raj' created a bureaucratic and restrictive environment for businesses, leading to inefficiencies and hindering economic growth.
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