Regulators must promote not strangle industry

India has several "regulators", trying to "regulate" several sectors of the economy. There is SEBI keeping a check on the stock markets, TRAI doing the same for the telecom and broadcasting sectors, IRDA for the insurance sector, PFRDA for pensions, DGCA for civil aviation and CERC for electricity. By their very nomenclature regulators regulate, which many mock to mean strangulate industries. In many cases, regulators focus on keeping private players in check, thinking of them as rapacious...

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