Discuss the current status of Government Monopoly industries and Industrial Licensing in India.
Industrial licensing policy 1956 was abolished in 1991.The compulsion for obtaining prior approval for setting up a industrial unit were left to only to few industries. Currently only two categories which are atomic energy and Railways reserved for public sector have government monopoly. Further, Atomic minerals come within the purview of Atomic Energy Act. Government of India does not grant license to private sector for mining of atomic minerals and mineral sand also. compulsion for obtaining prior approval .Furthermore, when we talk about Railways, it has been functioning well for Indian citizens due to social obligations, but not earning much for the government on account of high operating ratio and lack of management. Suggestion have been made by NITI Aayog for increase of private investment in Indian railways.
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