It is strange that the benchmark data is coming from United States, which itself failed badly during the recession because of lack of proper regulations. US should look to India to take some clues (which I believe they did recently in some cases, specifically banking). This survey is certainly propaganda.. read this.. 1. Hongkong is at the top, and the firm which did the survey is based there 2. India and China are worst, which are in fact best performing economies now
Re: Resourceful countries needs to be over-regulated
by Pratham Patil on Jan 28, 2011 06:32 PM
Any regulations at Macro level for Banking , Mining , Security etc are good ..... But what the article says ... is about over-regulations and some of them are really true... for example, I am trying to close my private company and it is almost 3 years and still filing papers whihc absolutely dont make any sense... And I can give you hundreds of such regulations at ground level which are only to create a room for "corruption" for lower - mid level bureauracy...
So much for MMS and Monteks claim to liberalisation. Nehruvian socialism will not permit liberalisation as the family collects money on through red tape
"Jst because of these so called over-regulations that India survived the bankuptcy of banks in particular and sovereign nations. " I agree! Also, i would say India is still under regulated. There is no regulator for healthcare, steel, petroleum, energy and other such sectors which is causing many issues like very high medical costs etc.
This is one section Indians have done well to avert the recent turmoil. Although i'm not vouching for over-regulation, the extent of regulation needed for different countries are different, in india we always have remember that we have a large poor class who also need to be served. The west would say such things to get the business in their favor, but the govt should continue to do what is good for the nation rather mindlessly following the advice of the westerners
This is the worst article i ve read in a while at rediff, apart from it being biased. It not only is biased but does not say why regulations have been put in place in the 1st place, although misused rampantly in our country.
Rediff should seriously consider removing the article from here.
