"Regulator Reform And Autonomy Critical For Civil Service Quality," Says NK Singh

At the BT INDIA@100 event at Bharat Mandapam in New Delhi, NK Singh, former Chairman of the 15th Finance Commission of India, addressed pressing issues related to regulatory reforms and the lateral entry of private sector professionals into public service. In his session titled "Abki Baar Reform the Sarkar," Singh delved into the challenges facing India's regulatory framework, emphasizing the critical question, "Who will regulate the regulator?" He advocated for a major overhaul in how regulators are selected and function, citing his experience with the initial power regulator selection. Singh noted the inadequacy of state power regulators' independence, which hampers effective tariff fixation and governance. He also called for legislative changes to bolster the autonomy of regulators, which is crucial for enhancing civil service operations. Addressing the integration of private sector professionals into roles such as those in the RBI, Singh stressed the need for both domain expertise and understanding of public sector systems. His remarks highlighted the necessity of selecting the best talent while ensuring a deep familiarity with regulatory frameworks to improve governance and effectiveness.