ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Congress Party-The Worm Turns

growth of large houses". How is this state of affairs to be reversed? It is proposed that expansion of large houses would be subject to the provisions of the MRTP Act. This is nothing new. What matters is how seriously the provisions of the Act are enforced. Here the Janata government is clearly persisting in the practice of its predecessor of not referring expansion applications from Large Houses to the MRTP Commission. It has also been stated that "except in the case of industries eligible for automatic growth of capacity", the expansion of large houses ''will require specific approval by the government''. This again marks no change over past policy. What is material is that as part of the process of relaxation of regulation of industry, referred to at the beginning, a large number of industries have been declared eligible for automatic expansion of capacity. Large houses are to continue to benefit from this policy. Finally, it is stated that "large houses will have to rely on their own internally generated resources for financing new or expansion projects". At least ever since the Industrial Licensing Policy Committee brought out how large business houses had been appropriating the lion's share of the advances of the financial institutions, there have been regular exhortations that the proportion of these resources going to the large houses should be brought down. But exhortations never broke any bones; nor will the latest one contained in the Industrial Policy Statement. This then is the sum total of the measures proposed to check the "disproportionate growth'' of large houses.

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