This refers to the editorial "CAG is not the answer" (April 22). It is true that the Comptroller and Auditor General (CAG) does not have the expertise to tackle well-funded private players but appointing a sector regulator is not the solution. Despite regulators such as the Telecom Regulatory Authority of India, Securities and Exchange Board of India and so on, we are still facing high-profile scams worth thousands of crores. To handle this burden we need "independent regulators" for every sector that is funded by the government. These regulators should be free from government interventions and their appointment should be transparent and strictly on the basis of merit. Further, the government should ensure the availability of adequate funds for these regulators so that there is no shortage of manpower and technology.
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Vinay Chandrakant Helwande Mumbai
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number