New Delhi, Apr 11: Strong, impartial and effective
regulatory framework would help India achieve a developed
nation status by 2020, leading NGO Cuts said here today.
"The role of an impartial and effective regulatory
framework overseeing free markets is becoming increasingly
important. This is a crucial institutional infrastructure
which has to be properly built up if we have to reach anywhere
near the goal of achieving a developed country standard by the
year 2020," Cuts centre for competition, investment and
economic regulation said in a discussion paper.
It observed that currently the regulatory framework in
the country is not encouraging due to lack of capability and
failure to gain confidence of major stakeholders.
"Over the past few years, we have seen that not only the
ministry concerned, but also the PMO had to intervene in the
affairs that should have been handled at the regulator's
level. A frequent happening of such incidents shows there is
something wrong somewhere," the study noted.
Cuts has welcomed the adoption of competition law to
create a market regulator which has an important bearing for
the sectors of the economy.
Bureau Report
