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Evolution and Challenges in Regulatory Agencies
The chapter explores the evolution of regulatory agencies globally and in India, emphasizing the importance of independence and accountability to prevent capture by industries. It discusses the need for stringent checks and balances, transparent processes, and oversight institutions to ensure fair regulations and hold regulators accountable. The conversation also delves into the challenges faced by regulators, drawing parallels with technical challenges in legacy systems and highlighting the inertia within state institutions that hinder improvements.