“Regulating regulators” (June 2) makes valid points when it comes to improving the performance of regulatory bodies in the country. Getting the regulators to award licences instead of the parent ministries is a good way to reduce favouritism and, at the same time, the draft regulatory Bill has found ways to make the regulator more accountable. You have pointed out some flaws in the Bill, but have omitted to mention the main point.
Whatever be the controversy over various regulators, it cannot be denied that the process is much better than the political process that it replaced. Even those who disagree with a regulator’s stance can challenge this in the appellate process since the regulator has to give a “reasoned” argument, and in writing. In the earlier era when the government took all decisions, no reasons were ever given, and certainly these were not in the public domain. While reforming regulators is important, we have to be careful not to throw the baby out with the bathwater.
Meera Srivastava, Gurgaon
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
