NITI Aayog is working on Regulator Reforms Bill: Jaitley

TIL Desk/Business/New Delhi-Government think tank NITI Aayog is working on the Regulator Reforms Bill, an omnibus legislation catering to the generic aspects of regulatory commissions, Parliament was informed today.

“NITI Aayog is working on the Regulator Reforms Bill, an omnibus legislation catering to the generic aspects of regulatory commissions that are related to selection and appointment of members, qualification for appointment of members, term of office and other conditions…” Finance Minister Arun Jaitley told Rajya Sabha.

The Minister further said that independent regulators have been set up across sectors under different Acts enacted by the Parliament. “These regulators draw their functions and powers as per the provisions of respective Acts,” he added.