48. THE INDUSTRIES (DEVELOPMENT) AND REGULATION) ACT, 1951
This is the main Act, which has created licensed Raj in Industry. This is enacted in 1951.The development and regulation of Industries is said to be the reason of its enactment.

Now a days most of its regulatory provisions have been repealed, and the Licensing Raj has been reduced to great extent. The Union Govt; has taken under its control Industries specified in the 1st Schedule of this Act. Those all Industries are of mainly of basic nature. They have to obtain license from Union Govt; to manufacture or produce those materials.

The Union Govt; is also empowered to take control of Industrial undertakings in certain cases. It is further empowered to control of supply, distribution and price etc; of certain items.

Many think, tanks of Industry accused this Act for backwardness and low development of Indian Industry.

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