Monopolies Inquiries Commission: (Submitted Report 1965)

The Mahalanobis committee recommendation was accepted by the government and under the Commissions of Inquiry Act 1952, a Monopolies Inquiry Commission was established in 1964. This commission was headed by Justice K.C. Dasguta and so also known as Dasgupta Commission. The major term of reference to this commission was to enquire into the extent and effect of concentration of power in private hands and prevalence of monopolistic activities and also to suggest necessary legislations in light of such inquiry. The Dasgupta Commission submitted its report in 1965 and it observed that "there were dangers from concentrate economic powers and monopolistic practices and they exist in large measure at present or potentially". So the commission recommended the government to avert or minimize these dangers.

Hazari Committee: (Submitted Report in 1967)

The Monopolies Inquiry Commission also reviewed the various aspects pertaining Industrial Licensing and observed that industrial licensing system enabled big business houses to obtain disproportionately large share of licenses which had led to pre-emption and foreclosure of capacity. Dr. R K Hazari was appointed as a consultant in the Planning Commission to review the working of the licensing system. He submitted the report in 1967. The Hazari committee observed that

• Industrial Licensing has NOT been able to achieve the cherished goal of balanced regional development.
• It also observed that in most cases "First come, first serve" rule was followed, so there was no proper system of issuing licenses.
• The committee further observed that "once the license has been issued, there was no proper follow up".
• In overall the "License" was termed by the Hazari committee as a "passport" to an entrepreneur to conduct business in India.