Curbing Concentration of Economic Power-A Critique of the New Licensing Policy

A Critique of the New Licensing Policy A N Oza FOLLOWING the recommendations of the Industrial Licensing Policy Inquiry Committee (Dutt Committee), industrial licensing policy was very .substantially revised in February 1970, primarily with a view to circumscribing the role of large business houses. However, in February this year licensing policy was again revised in such a manner as to materially dilute the effects of the polity introduced three years ago. That in a matter of three years the government should have developed cold feet about striking at the roots of the growth of big business shows how unsure and insincere it is about controlling the growth of big business houses so as to more widely distribute the opportunities for growth in the private sector.