Regulatory architecture still evolving, says Ashok Chawla

Image
Press Trust of India New Delhi
Last Updated : Sep 18 2014 | 6:21 PM IST
Observing that the country's regulatory architecture is still evolving, Competition Commission chief Ashok Chawla today said issues cropping up among regulators are expected to be settled in due course.
"Regulatory architecture is evolving and many issues are getting settled by way of some kind of understanding amongst and between the regulators where we need to interact with each other. Otherwise courts will handle these things.
"My own sense is that I don't see these kind of problems of overload on the regulatory architecture going beyond next five to seven years," he said at an event here.
In recent past, there have been instances of perceived regulatory overlaps.
"The issue that regulators very often have blurred responsibilities, have areas where it is possible for one to get into another," he noted.
Referring to regulators, Chawla also said there is always the difficulty of them tending to "tending to behave as if they are larger than life".
A regulator is not part of the state, only an extension of the executive, he added.
Environment Secretary Ashok Lavasa said that adhering to rules depends more on the way businesses are done rather than just enforcing the regulations.
He said that on the environmental side, there are many regulations that have been made which affect day to day living, day to day business but "do we have the wherewithal to enforce these regulations".
"... The answer certainly does not lie in creating an army of people who can enforce these regulations, the answer lies in the way we do business, in the way we understand our responsibility in adhering to these regulations," he added.
They were speaking at an event organised by the Public Affairs Forum of India (PAFI).
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Sep 18 2014 | 6:21 PM IST

Next Story