When regulation is legal, compliant—and still fails the public, what has gone wrong?
In this video, Debashis Basu examines how public interest can be displaced by private interests in India’s policymaking. Using IRDAI’s proposed reforms to insurance distribution, digital lending, the Licence Raj, public-sector banking, RTI and SEBI, he identifies three ways this happens: bad policy design, capture during implementation, and the weakening of institutions meant to protect citizens.
The larger question is not whether a policy looks good on paper, but who actually benefits when it is implemented.
As India aspires to become a developed nation, public interest must become the governing philosophy of policymaking—not an afterthought.
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