India's Soviet-style economy included the "Licence Raj": the elaborate licences, regulations and red tape needed to set up and run a business in India between 1947 and 1990. The License Raj was a result of India's decision to have a planned economy, where all aspects of the economy are controlled by the state. Licences were only given to a select few. Corruption flourished under this system. Under this system, the country created few jobs and little wealth. Widespread poverty remained.