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

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Paper Industry-Facade of Control

between industry and government en- visaged by the Committee, in the interest of faste; industrial growth.
The snag, of course, is that all this, while undoubtedly making for larger freedom and profits for business and industry, may still not result in a higher rate of industrial growth. The reason is that the Committee's basic proposition that the low rates of industrial growth in recent years have been on account of the rigours of the licensing system is false. In fact, since the beginning of the seventies there has been a spurt in the number of licences issued every year. The number rose from 1.420 in 1969 to 6,032 in 1974 but what has been the impact of this on industrial investment and growth of capacity and production? Further, if the Committee is to be believed, the main victims of the licensing system have been the large business houses. However, every time this question has been systematically probed in the past

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