This course has been created specifically to provide participants with an in-depth understanding of India’s regulatory environment as well as worldwide best practices. The course covers regulatory jurisprudence, analyses issues faced by Indian regulators, and offers solutions. It aims to provide learners with a comprehensive understanding of regulatory bodies and market scenarios in different sectors and how they influence the economy.
The regulators are charged with regulating the markets in their respective sectors. The most important duty performed by regulators is the formulation of regulations. Government laws enhance economic progress, promote social welfare, and safeguard the environment. They can include legal constraints, contracts, and co-regulation, as well as certifications or accreditation and social controls like norm-setting.
After going through this MOOC, the learners will be able to:
- Differentiate between several types of regulations and regulatory bodies.
- Describe the operation and oversight of regulators inside the Indian regulatory structure.
- Describe numerous best practices and guidelines for good regulatory governance.
- Understand regulatory effect assessment and its significance in the regulatory system.
Undergraduate students who are pursuing a Bachelor of Arts degree in Public Administration are the target audience for this MOOC. This is a five-credit course. There are 50 modules. The duration of the course is 15 weeks.
Over time, various regulatory approaches have emerged, including prescriptive strategies that aim to impose specific requirements on those who must follow the rules; performance-based strategies that only specify the desired outcomes; and process-based strategies that aim to shape the internal motivations and norms of those who must follow the rules. While regulation appears to be securely entrenched as an important component of society, it nevertheless faces substantial challenges in terms of efficiency, democratic supervision, and equitable implementation. This MOOC will strive to provide a detailed and thorough exploration of all the issues described above.
Summary
| Course Status : | Upcoming |
| Course Type : | Core |
| Duration : | 15 weeks |
| Category : |
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| Credit Points : | 5 |
| Level : | Undergraduate |
| Start Date : | 10 Jul 2024 |
| End Date : | 31 Oct 2024 |
| Enrollment Ends : | 31 Aug 2024 |
| Exam Date : | 15 Dec 2024 IST |
| Shift : | II |
Note: This exam date is subjected to change based on seat availability. You can check final exam date on your hall ticket.
Course layout
Week – 1
- Introduction of Regulatory Governance
- Regulatory Governance: Scope and Institutions
- Structural Principles of Regulatory Governance
- Regulatory Governance: From Ground to Sky
Week – 2
- Regulatory Governance and Second Administrative Reforms Commission
- Fundamental Rights and Regulatory Governance
- Directive Principles of State Policy: Philosophy and Significance in Regulatory Governance
- Citizens’ Charter and Regulatory Governance
Week – 3
- Audit in Regulatory Governance
- The Comptroller and Auditor General of India
- Independence of Regulator
- Transparency of Regulator: Structural, Institutional, and Operational Aspects
- Accountability of Regulator: Structural, Institutional, and Operational Aspects
Week – 4
- Central Drugs Standard Control Organisation: Introduction, Need and Its Objective of Establishment
- Provisions Concerning Composition or Constitution of CDSCO
- Functions of Central Drugs Standard Control Organisation
Week – 5
- Telecom Regulatory Authority of India (TRAI): An Introduction, Need and Objective of Its Establishment
- Provisions Concerning Composition or Constitution of Telecom Regulatory Authority of India
- Functions of Telecom Regulatory Authority of India
- Insurance Regulatory and Development Authority of India
Week – 6
- Central Electricity Regulatory Commission: An Overview
- Central Electricity Regulatory Commission: Composition and Functions: An Analysis
- Powers and Role of Central Electricity Regulatory Commission: Regulating Power Sector in India
Week – 7
- University Grants Commission: Introduction, Objectives and Role in Regulation of Higher Education
- University Grants Commission: Structure, Powers, and Functions
Week – 8
- Role of Food Safety and Standards Authority of India in Regulatory Governance
- Role of National Payment Corporation of India in Regulating Cashless and Digital Transactions
- Role of Central Pollution Control Board in Regulatory Governance
- Role of State Pollution Control Board in Regulatory Governance
Week – 9
- Competition Commission of India: Introduction, Composition and Functions
- Role of CCI as an Adjudicator and a Regulator in the Indian Competitive Markets
- Power and Duties of Competition Commission of India
Week – 10
- Securities and Exchange Board of India: Introduction, Need and Objective
- Securities and Exchange Board of India: Function and Powers
Week – 11
- Election Commission of India: An Introduction, Need and Objectives
- Election Commission of India: Composition
- Election Commission of India: Its Role and Functions
- Election Commission of India: Its Powers in the Light of ‘Authority and Responsibility’ Principle
Week – 12
- National Council for Teacher Education (NCTE)
- Reserve Bank of India: Introduction, Need and Objective of Establishment
- Functions, Powers, and Decision Making of the Reserve Bank of India
- Organisational Structure of the Reserve Bank of India
Week – 13
- Insolvency and Bankruptcy Code 2016: Introduction and Salient Features
- Role of National Biodiversity Authority in Regulatory Governance
- Regulatory Mechanism in Intellectual Property Sector
Week – 14
- Bar Council of India: Constitution, Functions and Powers
- State Bar Councils: Constitution, Composition, Functions and Powers
- Bar Council of India and Legal Education Rules
Week – 15
- Remedial Measures against Failure in Regulatory Governance
- Regulatory Governance at a Glance
Books and references
Acemoglu, Daron and James Robinson (2008), ‘The Role of Institutions in Growth and Development’, Working Paper No. 10, Commission for Growth and Development, Washington D.C.
Adelle C, Macrae D, Marusic A & Naru F (2015), New development: Regulatory impact assessment in developing countries—tales from the road to good governance, Public Money & Management, 35:3,
Ahluwalia, Montek S. (2002). ‘Economic Reforms in India since 1991: Has Gradualism Worked’? Journal of Economic Perspectives.
Alfaro, L. and Chari, A. (2009). ‘India transformed? Insights from the firm level 1988- 2005’. NBER Working Papers 15448, National Bureau of Economic Research, Inc.
Arora, Dolly (2014). ‘Trends in Centre-State relations,’ Indian Institute of Public Administration, New Delhi.
Bajpai, G.N. (2006). ‘Developments of capital market in India.’ Speech delivered at the London School of Economics and Political Science.
Bhagwati, Jaimini, M. Shuheb Khan and R. K. Reddy Bogathi (2016). ‘Financial Sector Legislative Reforms Commission and Financial sector regulation in India.’ Indian Council for Research on International Economic Relations Working Paper 324.
Bhagwati, J. and Panagariya, A (2013), Why Growth Matters: How Economic growth in India reduced Poverty and the Lessons for Other Developing Countries, Public Affairs, New York
Bharti, Aparajita (2014). ‘Regulatory Impact Analysis: Hopefully, a prelude to ‘Make in India’.
Burman, Anirudh and Iravati Damle (2015). ‘New moves in regulating warehouses.’
Chakraborty, Lekha (2014). ‘Revival of Mining Sector in India: Analysing Legislations and Royalty regime.’ Working Paper 129, National Institute of Public Finance and Policy, New Delhi.
Chakraborty, Lekha 2015. “Macroeconomic Policy for Mining Sector”, Interim Report, National Institute of Public Finance and Policy, New Delhi.
Chakraborty, Lekha, Shatakshi Garg, Gurpreet Singh (2016). ‘Cashing in on Mining: The Political Economy of Mining Regulations and Fiscal Policy Practices in India.’ Working Paper 161, National Institute of Public Finance and Policy, New Delhi.
Chakraborty, Lekha and Shatakshi Garg (2015). ‘The Political Economy of Mining regulations 2015: Spatial Inequality and Resource Curse in Two New States, India.’ MPRA Paper No. 67428, National Institute of Public Finance and Policy, New Delhi.
Chakraborty, Lekha and Sahil Ravgotra (2015). ‘Macroeconomic Policy Revival in Mining and Environmental Federalism: Glimpses from Modi Budget 2015- 16.’ Yojana, Government of India.
Conway and Herd (2009), “How Competitive is Product Market Regulation in India? An International and Cross-State Comparison”, OECD Journal: Economic Studies, OECD Publishing, Paris
CUTS (2013), National Competition Policy and Economic Growth in India: Electricity Sector, CUTS International.
Dubash, Navroz (2005). ‘The New Regulatory Politics of Electricity in India: Independent, Embedded or Transcendent?’ Paper presented at a workshop on the Politics of Necessity, Oxford.
Dubash, Navroz (2008). ‘Institutional Transplant as Political Opportunity: e Practice and Politics of Indian Electricity Regulation.’ Comparative Research in Law & Political Economy Research Paper No.31/2008.
Dubash, Navroz (2011). ‘Should electricity regulators promote competition?’ The Business Standard.
Dubash, Navroz (2012). ‘Regulation through the back door: Understanding the implications of institutional transplant.’Jerusalem Papers in Regulation and Governance. Working Paper No. 42.
Dubash, Navroz and Sudhir Chella Rajan (2001). ‘Power politics: Process of power sector reform in India.’ Economic and Political Weekly, Vol. 36, No. 35.
Eynde, Oliver Vanden (2015). ‘Mining Royalties and Incentives for Security Operations: Evidence from India’s Red Corridor.’ Paris School of Economics Working Paper no. 2015-42.
FINSEC Law Advisors (2013). ‘Regulatory Impact Assessment: Is it getting its due?’ Gowda, M. V. R. and E. Sridharan (2012). ‘Reforming India’s Party financing and election expenditure laws’, Election Law Journal, Vol. 11, No. 2.
GuhaThakurta, P. and A. Kaushal (2010), ‘Underbelly of the Great Indian Telecom Revolution’, Economic and Political Weekly, Vol. XLV, No. 49.
Guj, Pietro (2012). ‘Mineral royalties and other mining-specific taxes.’ International Mining for Development Centre – Mining for Development: Guide to Australian Practice.
Gupta, Anshul (2012). ‘Cellular Mobile in India: Competition and Policy.’ Pacific Affairs: Volume 85, No. 3.
Herd, Richard, Vincent Koen, Ila Patnaik, Ajay Shah (2011). ‘Financial Sector Reform in India: Time for a Second Wave?’ OECD Economics Department Working Paper No. 841.
IMF (2013). ‘India: Financial Sector Assessment Program—Detailed Assessments Report on IOSCO Objectives and Principles of Securities Regulation.’ IMF Country Report No. 13/266.
Kelkar, Vijay (2010). ‘The Recent Evolution of Indian Federalism.’ Address to the International Development Research Centre.
Mehta, P. B. and Walton, M. (2014). ‘Ideas, interests and the politics of development change in India’. Effective States and Inclusive Development Working Paper No. 36.
Nagavarapu, Sriniketh, and Sheetal Sekhri. “Less Is More? Implications of Regulatory Capture for Natural Resource Depletion.” Working Paper, 2014.
Nathan Economic Consulting India Private Limited (2013). ‘National competition policy and economic growth in India – Electricity sector study.’
Narain, S. (2015). ‘The Making of Mining Policy.’ The Business Standard.
Noronha L and N Srivastava (2012). ‘India’, In G Anderson, Oil and Gas in Federal Systems. Ontario: Oxford University Press.
OECD (2009), OECD Reviews of Regulatory Reform: China, OECD Publishing, Paris
OECD (2010). ‘Review of Regulatory Reform: Australia’, OECD Publishing, Paris.
OECD (2011), Administrative Simplification in Viet Nam: Supporting the Competitiveness of the Vietnamese Economy, OECD Publishing, Paris
OECD (2012), OECD “Better Policies” Series – India: Sustaining High and Inclusive Growth, OECD Publishing, Paris
OECD (2013) OECD Best Practice Principles for Regulatory Enforcement and Inspection, OECD Publishing, Paris.
OECD (2014a), OECD Best Practice Principles for Regulatory Policy: The Governance of Regulators, OECD Publishing, Paris
OECD (2014b), OECD Reviews of Regulatory Reform: Regulatory Policy in Mexico, OECD Publishing, Paris
OECD (2015a). ‘Regulatory Policy Outlook’, OECD Publishing, Paris.
OECD (2015b), ‘Implementing Good Regulatory Practice in Malaysia’, OECD Publishing, Paris
OECD (2016). ‘The Governance of Regulators – Being an Independent Regulator’, OECD Publishinh, Paris.
Pattanaik, Arpita and Anjali Sharma (2015). ‘Regulatory governance problems in the legislative function at RBI and SEBI.’ https://ajayshahblog.blogspot.fr
Posner, Richard A. (1974). ‘Theories of Economic Regulation.’ The Bell Journal of Economics and Management Science Vol. 5 No. 2.
Rai, Suyash and Ajay Shah (2014). ‘Rethinking the policy framework in coal’.
Ravi, Shamika and Darrell West (2015). ‘Spectrum policy in India’. Center for Technology Innovation at Brookings.
Sabarinathan, G. (2010). ‘SEBI’s Regulation of the Indian Securities Market: A Critical Review of the Major Developments.’ Vikalpa, Vol. 35, No. 4.
Sanghi, Anupam (2014). ‘The significance of the Competition Commission of India.’ Livemint.
Sen, Anupama and Tirthankar Chakravarty (2013). ‘Auctions for Oil and Gas: Exploration leases in India.’
The Oxford Institute of Energy Studies Paper SP 30.
Sen, Kunal and Sabyasachi Kar (2014). ‘Boom and Bust? A political economy reading of India’s growth experience, 1993-2013’. Institute of Economic Growth Working Paper 342.
Sen, Kunal, Sabyasachi Kar and Jagadish Prasad Sahu (2014). ‘The political economy of economic growth in India, 1993-2013.’ Effective States and Inclusive Development Working Paper No. 44.
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Sinha, Aseema (2004). ‘The Changing Political Economy of Federalism in India: A Historical Institutionalist Approach.’ India Review, Vol. 3, No.1.
Soni, Anmol and Anomitro Chatterjee (2014). ‘Governance of the Petroleum and Natural Gas sector in India: A Status note.’ The Energy and Resources Institute Working Paper Series No. 15.
Standing Committee on Petroleum and Natural Gas (2012). City Gas Distribution Projects.
Thomas, Susan (2006). ‘How the financial sector in India was reformed?’
Thomas, Susan (2014). ‘Regulatory reform in India: Improving regulatory quality.’ Finance Research Group, Indira Gandhi Institute of Development Research.
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Zaveri, Bhargavi (2016). ‘Participatory governance in regulation making: How to make it work?’
Instructor bio
Dr. Sharanjit
Professor Of Law, Rajiv Gandhi National University Of Law, Patiala, Punjab
Dr. Sharanjit has been a Professor of Law at the Rajiv Gandhi National University of Law, Punjab, since 2017. Prior to working at this university, she was a regular faculty member at the Department of Law, Punjabi University Regional Centre, Bathinda, Punjab. She has also taught as a regular faculty member at Bhai Gurdass College of Law, Sangrur, Punjab, and at Sardar Amarjit Singh Memorial Institute of Law, Samana. She is a visiting faculty member at the Punjab Jail Training School, Patiala, and imparts training in the field of criminal law to various batches of prison officials from Punjab, New Delhi, and Himachal Pradesh.
She pursued her graduation in commerce from Guru Nanak Dev University, Amritsar. Her LL.B. and LL.M. are from Punjabi University, Patiala. She has done her Ph.D. from Punjabi University Patiala on the topic, Legal Framework to Deal with Terrorism in India, under the able guidance of Professor (Dr.) G.I.S. Sandhu. She is the holder of the NCC ‘B’ certificate.
She has participated in a three-month certificate course in “Intellectual Property Rights and Information Technology in the Internet Age” from the Indian Law Institute, New Delhi. She has also participated in an intensive forty-two-hour training in Mediating the Litigated Case at Pepperdine University, Straus Institute for Dispute Resolution, Malibu, CA.
Currently, she is the Ph.D. Coordinator at RGNUL, Member of Executive Council at RGNUL, Member of Administrative Council at RGNUL, Member of the COVID-19 Committee, Member of the LL.M. Executive Programme for Professionals Committee, Member of the Editorial Board of the RGNUL Law Review, Presiding Officer of the Prevention of Sexual Harassment at Workplace Internal Complaints Committee, the NCC Caretaker, Presiding Officer of the Unfair Means Committee, Member of the Library Committee, Member IQAC, Member Curriculum Development Committee, and Coordinator of the Centre for Advanced Studies in Criminal Law. She has guided around 20 LLM students with their dissertation work. Presently, she is supervising five students for Ph.D. degrees (a Ph.D. degree has been awarded to two research scholars).
She has authored the following books: Anti-Terror Laws in India: Legislative Developments under Compulsions and Restraints (2014), Gender Justice (2015), First Information Report (2018), and Human Rights Concern in the Age of Insurgency and Terrorism (2020). She has authored 20 research papers in different journals. She has presented research papers at 25 national and international conferences. She is associated with different institutions of high repute as a resource person. She is also associated with DTH Channel No. 6 of Swayam Prabha (sponsored by the Ministry of Education, Government of India) in the capacity of a subject matter expert.
Course certificate
30% for in-course assessment and 70% for end term online exam.
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