Agenda for regulatory reform

Improving the governance of omnipotent regulators who currently dominate the economy and the lives of Indian citizens should be at the top of the new government's priorities

Regulation impacts our lives much more than we realise. From the coffee we have at breakfast, the e-platform-based taxi we use to go out, the e-payment we make for that journey, and our medicines and nutritional supplements — all these activities take place in regulated markets. The performance and soundness of each of these sectors is undergirded by the level of state capability of one or more regulators.

Today, there are over 20 Statutory Regulatory Authorities (SRAs) at the Union level, spanning sectors such as finance, telecommunications, electricity, water, food safety, competition, warehousing, airports, major ports, insolvency, medical