We need better supervision and not excessive regulations: Sanjeev Sanyal

In the paper, titled 'Risk vs Uncertainty: Supervision, Governance & Skin-in-the-Game', Sanyal has argued that a conventional top-down approach of regulation is the go-to solution for governments

Principal Economic Advisor Sanjeev Sanyal on Thursday cautioned against excessively regulating and policing various sectors and called for fewer laws and rules with better supervision.

“We better supervision, and not more regulation. Our default approach in India, to solve any problem, is not to improve state capacity. Our default approach is to have more laws, more regulations. That is what we are arguing against,” Sanyal said during a media interaction while discussing a finance ministry discussion paper authored by him.

In the paper, titled ‘Risk vs Uncertainty: Supervision, Governance & Skin-in-the-Game’, Sanyal has argued that a conventional top-down approach of regulation is