Since 1991, there has been a proliferation of independent statutory regulatory institutions in India. Much the same happened, but far earlier, in the developed world. What new challenges have been thrown up by the emergence of this “fourth branch”? Have these regulatory bodies lived up to their supposed promise? If not, what has impeded them? One would presume that there is a large body of scholarly literature on the Indian experience. That presumption is wrong. And that is why this book is important: It is the first major work on regulation and regulatory bodies in India.
The book addresses three sets