Briefly discuss the policy of industrial licensing
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This industrial licensing policy mainly aims to give much freedom to private enterprise. The objective of eliminating excessive concentration of economic power is sought to be achieved both by modification in the licensing policy with regard to large industrial houses and through enactment of the Monopolies and Restrictive Trade Practices Act, which came into operation with effect from 1st June 1970.
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Explanation:
Norms and policy. The industrial development and regulations act (IDRA) 1951 provided a basic frame work for the growth and development of industries in india. The Act mandates every exisiting or new or new industrial under taking to register itself with the federal government.
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