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Economic Survey 2021 says ‘overregulation’ leads to opaque decision making, pitches for simple regulations

The Economic Survey 2021 argues that the problem of 'overregulation' and 'opacity in Indian administrative processes' flows from the emphasis on having complete regulations that account for every possible outcome.

January 29, 2021 / 03:53 PM IST
Budget 2021 | Representative image: Moneycontrol.com

Budget 2021 | Representative image: Moneycontrol.com

The Economic Survey 2021, released on January 29, observed that India’s administrative processes derive less from lack of compliance to regulatory standards, but from 'overregulation'.

“International comparisons show that the problems of India’s administrative processes derive less from lack of compliance to processes or regulatory standards, but from overregulation,” the Economic Survey said.

Overregulation, not simpler regulation, leads to opaque decision making, the survey said.

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