The Department of Promotion of Industry and Internal Trade (DPIIT) is likely to launch measures to minimise regulatory compliance on October 2 for both centre and states. The decision to launch the measures comes on the back of the TeamLease study on the regulatory compliance burden in India. The report cited that there are over 69,000 compliances and over 6,600 filings required at the centre and states in India.

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In a meeting held by DPIIT with the states, it has sought a review of all licences, certificates, permissions, inspections, return filings, registers, and records. It has also asked the states to share an action plan on ways to bring down regulatory compliances by September 30.

The DPIIT has identified a two-phase parallel plan to bring in measures to minimise regulatory compliance. The first phase starting October 2 will focus on the removal of licence renewals, bring in a 1-page application form and also digitise and reduce the frequency of filings by the end of FY21. Around the same time, it plans to bring in the decriminalisation of laws, identify archaic laws and rules, and also evaluate regulations on the basis of the time required and cost on the business by October 2021.

The move to bring in easier compliance norms is aimed at bringing ease of doing business, boost manufacturing with an eye on bringing private sector investments to reboot growth.

First Published:Sept 10, 2020 2:47 PM IST