01-01-1970 12:00 AM | Source: Accord Fintech
Measures to reduce compliance burden have multiplier effect on ease of doing business: Piyus Goyal
News By Tags | #4062 #248 #3022

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Commerce and Industry Minister Piyush Goyal has said that all efforts and measures to reduce compliance burden by means of simplification, elimination and decriminalisation of several laws can have a transformative impact and multiplier effect on ease of doing business. He said reduction of compliance burden is about trust in every business, person and citizen.

Goyal has stated that in the last seven years, several such measures have been taken due to which there is an improvement in competitiveness, innovation, and ease of doing business. To reduce these burdens, he said that every ministry, department and states were asked to conduct a comprehensive review of compliances under their purview to understand their relevance and rationale and undertake a complete process re-engineering to eliminate burdensome compliances.

The objective set for this comprehensive exercise was to improve ease of living and ease of doing business by simplifying, rationalizing, digitizing and decriminalizing government to business and citizen interfaces across all ministries/departments and states/UTs. This is being done by a four-pronged strategy, including elimination of compliance burden, digitization: creation of online interfaces and decriminalisation of certain laws.