Which was a system of licenses and regulations that one need to follow in order to set up a business in India between 1947-1991 ?

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Quizplus · Accepted Answer

The term "License Raj" refers to the elaborate licenses, regulations, and the accompanying red tape that were required to set up and run businesses in India between 1947 and 1991. This system was a part of India's mixed economy framework, where the government had control over certain industries, and was aimed at protecting the domestic economy. It was eventually reformed in 1991 through economic liberalization.

Which Was a System of Licenses and Regulations That One