Question

Emerging Problems
Over the years, many of these industrial policies became hindrance to the growth
of industry. Those aspiring to set up an industrial unit were required to follow so
many procedures and had to wait for many years to get the approval from the
government offices (There were administrative hurdles, such as delays in processing
applications, which gave rise to the unhealthy practice of bribes como
There were many instances of misuse of the licensing system. Licenses were
not always given to the most efficient producers. The selection was biased in favour
of people with political connections and the economically powerful. Thus, the big
and influential people would corner not one but several licenses. Some of these
would be in very different and unrelated products. For example, a textile
manufacturer having secured a license for cement would start a cement factory
even though the firm had no special competence in the area of cement production
During the 1970s and 1980s many of the industrial families in India had licenses
for production of almost all major industrial goods and few new people could get
into industrial production,
All this discouraged new entrepreneurs, those who were willing to take the risk
of investing money in industrial production and who would work with latest
technology available​

Answer 1

Answer:

1970 and 1980 s

Step-by-step explanation:

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