Sunday, August 19, 2012

A regulator for everything

With the Coalgate scandal and people proposing a coal regulator
(, I think we should create regulators and Appellate Tribunals in all sectors/industries.
With the creation of TRAI, TDSAT and AERA (Airport Economic Regulatory Authority), we have around 36 regulators and Appellate Tribunals in India.
Most consists of regulators for the small sector industries (Coastal Aquaculture, coir, health related) and some big ones (IRDA, PNGRB, SEBI,etc.)
Its time the Govt. of India creates the same structure of an Independent regulator and an appellate tribunal in all the sectors and industries.
This could have multiple benefits:
1. To look into the problems/complaints of customers/companies
2. The betterment of the sector through initiatives, policies and policing.
3. This focus on each sector may also reduce the number of cases going to the courts in the absence of such authorities.

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