The Finance Ministry reaffirmed its commitment to reducing regulatory burdens and promoting a trust-based governance framework to enhance the ease of doing business in India. During a post-budget webinar on ‘Regulatory, Investment, and Ease of Doing Business (EoDB) Reforms,’ Finance Minister Nirmala Sitharaman pointed out the need for a business-friendly regulatory environment that fosters growth and investment.
Regulatory Simplifications: Over 42,000 compliances have been removed, and 3,700+ legal provisions decriminalized since 2014.
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Jan Vishwas Act, 2023: Decriminalized 180+ legal provisions, with the upcoming Jan Vishwas Bill 2.0 expected to further ease compliance by addressing 100+ additional provisions.
High-Level Regulatory Review Committee: To evaluate and streamline non-financial sector regulations, certifications, licenses, and permissions.
Increased Capital Expenditure: Proposed Rs. 15.48 lakh crore for 2025-26, accounting for 4.3% of GDP, aimed at infrastructure growth and private sector participation.
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Sitharaman stated that these measures will reduce red tape and allow businesses to focus on innovation and expansion rather than bureaucratic hurdles. She further stated that the government is working towards making India a “seamless, export-friendly economy” by simplifying inspections and compliance processes.
The Finance Minister highlighted that a robust manufacturing sector, free from unnecessary regulatory bottlenecks, will attract both domestic and foreign investments, positioning India as a trusted global player.
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The reforms will particularly benefit MSMEs (Micro, Small, and Medium Enterprises), ensuring faster approvals, reduced legal hassles, and a more business-friendly climate.
The government is also working on further ease of business reforms, focusing on simplified documentation, reduced penalties, and streamlined approval mechanisms.
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