In a significant move, India’s bureaucracy has been reduced by 20% through what Sanjeev Sanyal, an economic adviser to the prime minister, calls “process reforms.” These reforms involve small tweaks to streamline government operations rather than large structural changes like tax code overhauls. This initiative, taking place in offices previously occupied by India’s planning commission, aims to enhance efficiency without the need for radical deregulation, which often boosts growth. Despite the global trend of governments promising regulatory cuts, few achieve it. Meanwhile, in other news, Chinese AI models are noted for being much cheaper yet almost as effective as their American counterparts, and there’s a boom in plastic surgery among young customers in developing countries due to falling costs and converging beauty standards.
Source: www.economist.com















