Edelweiss Mutual Fund’s Managing Director and Chief Executive Officer (CEO) Radhika Gupta, on Sunday, February 2, reacted to US President Donald Trump’s executive order, which mandates the removal of 10 existing rules to launch one new rule by any agency.
What did Radhika Gupta say?
Gupta said that this move will not add extra to the cost of compliance as the old regulations will be let go to build new ones.
“This is brilliant. Keeps regulations up the curve, while not adding to the cost of compliance by letting old regulations pile up,” said Radhika Gupta in her post on platform X.
The Edelweiss Mutual Fund Chief also gave an example of how this new order is similar to a mother asking to get rid of the old shoes before buying a new pair. Gupta metaphorically says this also limits the “cupboard space” and “cost spent” by the government.
“Akin to mom telling me I need to discard a shoe when I buy a new one. Cupboard space and cost spent on compliance should both be limited,” said Gupta in her post.
Donald Trump’s new order
According to the official White House data release, on January 31, 2025, US President Donald Trump signed an executive order launching a 10-to-1 deregulation initiative.
The order requires any agency which aims to introduce a new rule, now needs to identify at least 10 existing rules and regulations or guidance documents to scrap, according to the release.
“The Director of the Office of Management and Budget will ensure standardized measurement and estimation of regulatory costs,” said the White House release.
This move from the Donald Trump administration comes forth with aims to stop the “job killing and inflation-driving regulatory blitz of the Biden Administration.”
The release also disclosed that the Biden administration imposed $1.7 trillion in costs on the people of America.
“Overregulation stops American entrepreneurship, crushes small business, reduces consumer choice, discourages innovation, and infringes on the liberties of American citizens,” said the Trump administration in the White House release.