Regulatory capture of a different kind

Three-fourths of India's top regulators are retired government officers. This trend must change

A quick look at India’s regulatory framework will tell you that there are at least 16 institutions that supervise different sectors of the economy. This may not be a complete list but should be sufficient for starting an assessment of how these regulatory bodies have managed themselves and whether they are well placed to independently regulate different sectors of the economy in the post-reforms era.

These regulatory bodies supervise a wide range of sectors, including financial intermediaries like banks and insurance companies, financing of housing and small industries, capital markets, electricity distribution, telecommunication, competition policy, port tariffs, airports, pension funds, warehousing,