Principles of regulation must never be forgotten: Here are five deviations that India must fix right away
It’s a national pattern. Angel tax was imposed, exempted, extended and then abolished. Laptop import licensing was introduced and reversed within weeks. Online money gaming moved from a 28% tax to prohibition. Similarly with the principles behind UPI and its merchant discount rate. These episodes differ, but share a consequence: businesses can adapt to stringent rules, but unpredictable shifts raise investment costs. Markets can price a rule, but not a regulator’s changing mind.
