Economics · Industrial Policy & Licensing
What was a primary objective behind implementing the industrial licensing system in India during the post-independence planning era?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To boost consumer goods production rapidly
- 2To simplify the process of starting new private businesses
- 3To prevent monopolies and ensure balanced regional development✓
- 4To encourage foreign direct investment and technology transfer
Correct answer
To prevent monopolies and ensure balanced regional development
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