Licence Raj or Permit Raj (rāj, meaning "rule" in Hindi) is a term coined by Indian independence activist and statesman C. Rajagopalachari for the system of strict government control and regulation of the Indian economy. This economic system, a form of state capitalism, was in place from the 1950s to the early 1990s.
Licence Raj or Permit Raj (rāj, meaning "rule" in Hindi) is a term coined by Indian independence activist and statesman C. Rajagopalachari for the system of strict government control and regulation of the Indian economy. This economic system, a form of state capitalism, was in place from the 1950s to the early 1990s.
Source: Wikipedia "Licence Raj" · CC BY-SA 4.0
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