What is Licence Raj Upsc?
License Raj refers to regulations and accompanying bureaucracy that were required to set up and run Indian businesses in India between 1951 and 1991. The Government resorted to licensing system so that it can maintain control over industries as per the Industries Development and Regulation Act, 1951.
Who introduced Licence Raj?
Rajaji, the founder of the first market friendly political party, the Swatantra Party, in late 1950s coined the term “Quota-Permit-License Raj” to describe the Indian model of socialism.
Who abolished License Raj?
Licence Raj, which was in place for four decades, came to an end with the new industrial policy announced by Manmohan Singh and Prime Minister PV Narsimha Rao, who also held the portfolio of Industries Minister.
Is License Raj still in India?
The licence raj was dismantled when the liberalisation policy was introduced in 1991. The licence raj involved an elaborate system of licences and regulations that were required to set up and run businesses in India.
What do you understand by license raj 12?
Answer: The Licence Raj or Permit Raj (rāj, meaning “rule” in Hindi) is the elaborate system of licences, regulations and accompanying red tape that were required to set up and run businesses in India between 1947 and 1990.
What is License Raj in India Quora?
The Licence Raj or Permit Raj was the elaborate system of licenses, regulations and accompanying red tape that were required to set up and run businesses in India between 1947 and 1990.
How can Licensing be defined?
Definition: Licensing is defined as a business arrangement, wherein a company authorizes another company by issuing a license to temporarily access its intellectual property rights, i.e. manufacturing process, brand name, copyright, trademark, patent, technology, trade secret, etc.
What is difference between license and licence?
In the US, use license for noun and verb. In the UK, use licence for the noun, but license for the verb.
What is license and example?
The definition of a license is an official permission to do something or a document, plate or tag showing proof of permission. An example of a license is what drivers carry showing they are legally able to drive.
How can licensing be defined?
What is Licence Raj in India?
Licence Raj. A term used to describe the regulation of the private sector in India between 1947 and the early 1990s. In India at that time, one needed the approval of numerous agencies in order to set up a business legally. Manufacturing in particular was heavily regulated.
Which of the following is a key characteristic of Licence Raj?
A key characteristic of the Licence Raj was a Planning Commission that centrally administered the economy of the country. Like a command economy, India had Five-Year Plans on the lines of the five-year plans in the Soviet Union.
What is the meaning of the term “Raj Raj”?
Raj means rule in Hindi. This refers to the period between 1947 (independence of India) and 1990 when the economy was centrally planned. While this was not as strict as the erstwhile Soviet states, firms still needed licenses from various government agencies to open a medium or large size business or manufacturing plant.
Who was the architect of the Licence Raj system?
The architect of the system of Licence Raj was Jawaharlal Nehru, India’s first Prime Minister. Private players could manufacture goods only with official licences. The key characteristic of the Licence Raj is a Planning Commission that centrally administers the economy of the country.