Chapter 24: A critical review of the development of capital markets in India
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This chapter critically assesses the capital markets developments in India over the years leading up to the current post-pandemic era. While there has been commendable progress, the analysis in this chapter shows that three big-picture issues need to be addressed. The first issue is the excessive proliferation of rules and regulations, many of which have not had the intended success. The second issue is the lack, in many instances, of rigorous policy analysis and transparent consultations informing law and regulations in the corporate and financial sectors. The third issue is the need to improve the enforcement machinery for corporate and securities laws in India.

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