💨 Abstract

The article discusses the evolution of India's regulatory framework since the 1990s economic reforms. It highlights three key assumptions behind this framework: the government would formulate policies, independent regulators would enforce them, and key personnel for these regulatory bodies would be chosen from a diverse pool of experts to ensure autonomy. However, over time, these principles have been eroded, with former regulators taking key government positions and a preference for retired civil servants to head regulatory bodies.

Courtesy: theprint.in

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