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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