Regulatory policy in India: Moving towards regulatory governance
This paper provides an analysis of India's existing regulatory regime and its evolution over the last 25 years, and the efforts to improve the regulatory framework as India has transitioned towards a market economy. The paper argues that while India has implemented many sector specific regulato...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2017
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| Schriftenreihe: | OECD Regulatory Policy Working Papers
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| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper provides an analysis of India's existing regulatory regime and its evolution over the last 25 years, and the efforts to improve the regulatory framework as India has transitioned towards a market economy. The paper argues that while India has implemented many sector specific regulatory reforms, the absence of a government wide initiative to improve regulatory quality, or implement a whole of government regulatory policy, has prevented India from creating a consistent and coherent regulatory environment and has undermined trust and integrity in the regulatory system. As a result, outcomes of regulatory governance have so far been quite mixed. In many cases they have fallen far short of expectations. The paper therefore identifies some of the constraints that have challenged India's regulatory governance, the dominant presence of state owned enterprises, the multi-level government structures and regulatory independence of agencies and institutions. Meanwhile, effective regulatory governance has distinctly evolved in the securities market and it highlights the reasons behind the success of the securities market regulator. The positive example of the Securities Exchange Board of India is outlined to showcase the potential for implementing good regulatory practice through regulatory oversight, better governance of regulators, stakeholder engagement and regulatory impact assessments. The paper also looks at issues related to Regulatory Impact Assessments in the Indian context |
| Beschreibung: | 1 Online-Ressource (45 Seiten) |
| DOI: | 10.1787/b335b35d-en |
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| index_date | 2024-07-03T19:35:06Z |
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| spelling | Som, Lalita Verfasser aut Regulatory policy in India Moving towards regulatory governance Lalita Som and Faisal Naru Paris OECD Publishing 2017 1 Online-Ressource (45 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Regulatory Policy Working Papers This paper provides an analysis of India's existing regulatory regime and its evolution over the last 25 years, and the efforts to improve the regulatory framework as India has transitioned towards a market economy. The paper argues that while India has implemented many sector specific regulatory reforms, the absence of a government wide initiative to improve regulatory quality, or implement a whole of government regulatory policy, has prevented India from creating a consistent and coherent regulatory environment and has undermined trust and integrity in the regulatory system. As a result, outcomes of regulatory governance have so far been quite mixed. In many cases they have fallen far short of expectations. The paper therefore identifies some of the constraints that have challenged India's regulatory governance, the dominant presence of state owned enterprises, the multi-level government structures and regulatory independence of agencies and institutions. Meanwhile, effective regulatory governance has distinctly evolved in the securities market and it highlights the reasons behind the success of the securities market regulator. The positive example of the Securities Exchange Board of India is outlined to showcase the potential for implementing good regulatory practice through regulatory oversight, better governance of regulators, stakeholder engagement and regulatory impact assessments. The paper also looks at issues related to Regulatory Impact Assessments in the Indian context Governance India Naru, Faisal ctb https://doi.org/10.1787/b335b35d-en Verlag kostenfrei Volltext |
| spellingShingle | Som, Lalita Regulatory policy in India Moving towards regulatory governance Governance India |
| title | Regulatory policy in India Moving towards regulatory governance |
| title_auth | Regulatory policy in India Moving towards regulatory governance |
| title_exact_search | Regulatory policy in India Moving towards regulatory governance |
| title_exact_search_txtP | Regulatory policy in India Moving towards regulatory governance |
| title_full | Regulatory policy in India Moving towards regulatory governance Lalita Som and Faisal Naru |
| title_fullStr | Regulatory policy in India Moving towards regulatory governance Lalita Som and Faisal Naru |
| title_full_unstemmed | Regulatory policy in India Moving towards regulatory governance Lalita Som and Faisal Naru |
| title_short | Regulatory policy in India |
| title_sort | regulatory policy in india moving towards regulatory governance |
| title_sub | Moving towards regulatory governance |
| topic | Governance India |
| topic_facet | Governance India |
| url | https://doi.org/10.1787/b335b35d-en |
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