India's judiciary needs a crash course in economics

Supreme Court judgement asking GAIL to pay pay around Rs 1,72, 000 crore to the telecom department shows judges must know the imperatives of economics.

In his book published recently, Amitabh Kant, CEO of Niti Ayog, writes that judges should be aware of the economic consequences of their judgements. He is absolutely right. 

A recent Supreme Court judgement requires the Gas Authority of India (GAIL) to pay around Rs 1,72, 000 crore to the government's Department of Telecommunications (DoT) for the use of spectrum for its satellite communications.

Since many other public sector companies are similarly impacted, the government is expected to set up a committee to sort things out. After all, these awards to the DoT are impossible to implement. 

To be sure, things will eventually be