GS IAS Logo

< Previous | Contents | Next >

1. Introduction

Regulation refers to controlling human and societal behavior through rules and orders issues by the executive authority of a government/state. Generally such rules/orders are backed by the force of law. Regulation covers all activities of private or public behaviour that may be detrimental to societal or governmental interests. It is supported by penalties or incentives that ensure compliance.

 

1.1. Background1.2. Need for Regulation(i) Prevention of Market Failure(iii) To promote the public interest