The Regulatory Chakravyuh
Economic Times, April 30, 2012
The Planning Commission is seriously addressing problems. In order to weed out or rationalise useless regulations, the plan body’s strategy also speaks about undertaking scientific regulatory impact assessments. The catch is that states will need to be involved in this exercise closely, as much of the regulatory chakravyuh exists locally. A consensus can evolve through a dialogue and the plan body will have to market it to states, like a skin fairness cream, to demonstrate to them that revenues will rise and new jobs created.