Blurb: As India marches towards its destiny, we must reject the temptation, or the excuse, that we are unique.

The Jalan report on ownership of stock exchanges is flawed on so many counts that it is hard to imagine that anything more could have been added to the report to ensure that it should and/or will be rejected in toto. It is reasonable to speculate that this was perhaps the intention of the eminent committee. Why that might have been so will perhaps be debated over the ensuing months.