Niti Aayog moots independent regulators
Government think-tank Niti Aayog has favoured creating independent regulators for steel and mining sectors in the country in a bid to make both industries profitable.
“Since steel is a deregulated sector, there is need for an independent regulator for effective regulation, which the sector presently lacks,” Aayog said in a working paper.
“Also, in the mining sector, though NMDC should act as a regulator, it itself is engaged in iron ore mining, which may create conflict of interest. Therefore, a new independent regulator is required in the mining sector as well.”