In SC, government praises PV Narasimha Rao, Manmohan Singh for ending ‘licence raj’, opening economy

The BJP-led NDA government praised former PM Narasimha Rao and his finance minister Manmohan Singh for their role in economic liberalization in 1991. Solicitor General Tushar Mehta highlighted their efforts in the Supreme Court, stating that while many laws were liberalized, the Industry (Development and Regulation) Act, 1951, remained unchanged, giving the government overarching control over industries.