Have sunset clause for economic laws constraining growth: Vijay Kelkar

Kelkar suggested a system for periodic review of economic laws, howsoever revolutionary they might be when they are passed

Vijay Kelkar
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Kelkar also pitched for making it mandatory to assess the cost of a legislation through a cost-benefit analysis before Parliament passes it.

Press Trust of India
Economic laws lose relevance after a few years and may also become a constraint for growth, chairman of the Thirteenth Finance Commission Vijay Kelkar said on Tuesday, pitching for a "sunset clause" for such statutes.
 
Kelkar, who has also served as the Union finance secretary, cited the Land Act and Rent Act while illustrating the constraints posed by laws which were revolutionary at some point of time.

"I see devastating effects... (we need) to build-in a sunset clause for many of our economic laws," Kelkar said.

He was speaking at an event to launch the Vidhi Centre for Legal Policy''s

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 30 2021 | 7:14 AM IST

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