12 Pages Posted: 16 May 2006
Date Written: December 2005
Privatization and vanishing closed economy are the key factors giving impetus to growth of regulatory authorities in India. At the same time permissible constitutional mandate for establishment of regulatory authorities needs thorough investigation and ascertainment. Establishing a regulatory authority does not mean supplanting either executive or judicial authority from the field rather in a constitutional economy like India it acts to supplement separation of power. A due framework of regulatory authority that facilitates market growth and economic development, based on separation of power model is the need of hour in India.
Keywords: regulatory regime, constitution, India
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