Maharashtra-Sharpening Conflict

the MRTP Act in June 1970 upto March 1973, only 63 'applications for establishment of new undertakings had been referred to the Commission. Of these, not. even a single one had been rejected by the Commission : 11 were approved and nine were withdrawn, in respect of five the relevant section of the Act was found to be not applicable. In respect of substantial expansion, of 272 applications received by the Commission, 80 had been approved and only 5 rejected. Of the rest. 23 applications were withdrawn and the provisions of the Act were found to be not applicable to 83, During the same period, the government had issued 1,552 industrial licences and 2,330 letters of intent. Clearly, to hold that it had any impact on industrial growth, or the lack of it, is to flatter the Monopolies Commission.