Late in the 20th century, major change came to the indian economy as a result of many factors including?

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08-08-2022
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Late in the 20th century, major change came to the indian economy as a result of many factors including?

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rafikiedu04 rafikiedu04 · Answer 1 · 2022-08-11T11:14:01+02:00

Late in the 20th century, a major change came to the Indian economy as a result of many factors including abolishing the old "License Raj." What group of cities in South Asia has been expanding in population the most

The liberalization policies introduced in 1991 dismantled the 'Licensing Large', essentially the elaborate system of licensing and regulation required to establish and operate a business in the country.

Rajaji was the founder of the first market-oriented political party, the Swatantra Party, and in the late 1950s used quotas to explain India's socialist model.

License Raj coined the term Permit License Raj to describe the regulations and associated bureaucracy required to set up and operate an Indian company in India between 1951 and 1991. The government relied on a licensing system to help maintain control of the industry under the Industrial Development and Regulation Act.1951

Learn more about License Raj here

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