Licence Raj back in a new avatar

Long years after the unfettering of the economy and the dismantling of the dreaded and in many cases almost monopolistic licence permit raj, India is once again in the throes of a similar phenomenon. What we are witnessing is an all pervasive sense of greed and graft emanating from a ubiquitous and unchecked system of crony capitalism. The modern pillars of crony capitalism are a direct throwback to the old dispensation of licence permit raj. Grab a licence, entrench yourself in an industry and pretty much ring fence...

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