Pay good salaries to get good professionals: Jaitley

Union Minister for Law, Justice, Commerce and Industry, Arun Jaitley regretted that the remuneration policy of the government has restricted entry of good professionals to the top slots of regulatory bodies.

Speaking at the national conference on economic legislations organised by the Federation of Indian Chambers of Commerce and Industry here on Wednesday, Jaitley said chairmen of the regulatory bodies are paid in the grade equivalent to the secretary and no professional will work at that salary. “The temptation for the government is to get people from the civil services and from among the retired judges who are not the best persons to perform the job,” he added. Jaitley also hinted on economic reforms of fair trade. “The evil sought to be curbed by the securitisation act is that the defaulters do not get away. We are moving to a regime of debtors chasing creditors with proposals of repayment schedules rather than creditors chasing debtors,” Jaitley said.