License Raj System — Policy Reforms

Entry	Year	Description	Impact
Industries (Development and Regulation) Amendment Act, 1953	1953	Expanded the scope of the original Act to include more industries under its regulatory purview and refined certain procedural aspects related to licensing and control.	Further solidified the government's control over a wider range of industrial activities, reinforcing the License Raj framework in its early years.
MRTP (Amendment) Act, 1982	1982	Introduced provisions to deal with 'unfair trade practices' and strengthened the powers of the MRTP Commission in certain areas. It also made some procedural changes.	While adding a new dimension of consumer protection, it did not fundamentally alter the restrictive nature of the MRTP Act concerning industrial growth and concentration of economic power. It maintained the regulatory burden on large firms.
MRTP (Amendment) Act, 1991	1991	Significantly raised the asset thresholds for 'MRTP companies', effectively taking a large number of companies out of the purview of the Act's restrictive provisions regarding expansion and establishment of new undertakings.	This was a crucial step in dismantling the License Raj. By freeing many large firms from the need for prior government approval for expansion, it signaled a major shift towards liberalization and deregulation, allowing businesses greater autonomy in investment decisions.