Finance Minister Arun Jaitley on Saturday said as an economy evolves, regulation needs to be relaxed or altered keeping in the mind the ground situation. He said governments increasingly get opportunities to interact with various stakeholders. For any regulatory mechanism, the stakeholder consultation has to be of very high quality which will probably lead to a revisiting of the traditional thoughts and opinions, he noted. That’s why if you have seen, several regulators now publish their approach papers, tentative drafts, they hold hearings, meet individuals, meet groups of stakeholders together and improve upon what’s being said, he observed.
An evolving economy needs dynamic regulation: Jaitley
