Today’s ET editorial note:
The finance ministry is doing precisely that with its proposed Direct Tax Code. Sebi and Trai routinely undertake public consultations before drawing up policy. There is no reason why this should not become standard practice for all policymaking.
President Patil also made another far-reaching promise: “As part of process reform, all proposals to the Cabinet will have to report on how the proposal under consideration will enhance the goals of equity or inclusion, innovation and public accountability.”
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