Latest news with #JanVishwasAct1.0
Time of India
11-07-2025
- Business
- Time of India
Reform to reduce regulatory overreach: Niti's Gauba to states
Rajeev Gauba Niti Ayog NEW DELHI: States should undertake reforms aimed at reducing regulatory overreach and fostering business confidence, Rajeev Gauba, member of govt's policy think tank Niti Aayog , said on Thursday. Gauba also highlighted the potential for collaboration between Niti Aayog and DPIIT (department for promotion of industry and internal trade) to support states in adopting a principle-based approach to decriminalisation. He was speaking at a high-level workshop on ease of doing business and investment promotion where several states participated. During the session on decriminalisation and compliance reform, several states presented their ongoing initiatives arising from Jan Vishwas Act 1.0, highlighting efforts to decriminalise minor business-related offences at state level. The discussion stressed the need to convert minor business offences into civil penalties, while also streamlining compliance mechanisms to reduce the burden on entrepreneurs, said an official statement. States shared examples of removing imprisonment clauses, adopting self-certification regimes, removal of licence renewal and simplifying regulatory touchpoints to encourage ease of compliance and build trust with businesses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Doutor: Manter a massa muscular após os 50 anos depende deste hábito noturno Revista do Homem Saiba Mais Undo Industry representatives also suggested introduction of a trusted taxpayers programme for both direct and indirect taxes, to incentivise compliance and promote a more facilitative regulatory environment. B V R Subrahmanyam, CEO, Niti Aayog, underscored the role of state-level execution in shaping the country's overall investment climate. He emphasised that there is much to learn from within the country, citing diversity of successful models across states. He called for streamlined systems, enhanced accountability, and coordinated efforts between Centre and states to make India the most attractive and dependable destination for global capital.
Hans India
10-07-2025
- Business
- Hans India
Centre-State coordination to make India a global investment destination: NITI Aayog CEO
New Delhi: BVR Subrahmanyam, CEO of NITI Aayog, on Thursday underscored the critical role of state-level execution in shaping India's overall investment climate. During a high-level workshop on ease of doing business and investment promotion in New Delhi, he emphasised that there is much to learn from within the country itself, citing the diversity of successful models across states. Subrahmanyam called for streamlined systems, enhanced accountability, and coordinated efforts between the Centre and states to make India the most attractive and dependable destination for global capital. The workshop brought together senior policymakers to accelerate business reforms across India. Deliberations were held across seven core reform areas vital to investment facilitation and improving the ease of doing business at the sub-national level. These included Decriminalisation of Laws; Deregulation and Compliance Burden Reduction; Business Reform Action Plan (BRAP) Implementation; Development of Industrial Infrastructure; Single Window Clearance Systems; Financial and Taxation Reforms; Investment Promotion Strategies. During the session on decriminalization and compliance reform, several states presented their ongoing initiatives stemming from the Jan Vishwas Act 1.0, highlighting efforts to decriminalize minor business-related offences at the State level. States also emphasised a shift toward enhancing the "Speed of Doing Business", with a focus on reducing the number of stages in the business lifecycle to enable faster, more seamless operations for enterprises. The discussion underscored the need to convert minor business offences into civil penalties, while also streamlining compliance mechanisms to reduce the burden on entrepreneurs. States shared examples of removing imprisonment clauses, adopting self-certification regimes, removal of licence renewal and simplifying regulatory touchpoints to encourage ease of compliance and build trust with businesses. There was also a strong emphasis on aligning state-level actions with the national Business Reform Action Plan (BRAP) framework, ensuring that reforms lead to measurable and comparable improvements. Industry representatives advocated for the enactment of a national-level legislation to harmonise decriminalization and compounding provisions, across States. They also suggested the introduction of a Trusted Taxpayers Programme for both direct and indirect taxes, to incentivize compliance and promote a more facilitative regulatory environment. The session on Investment Promotion Strategies stressed the need to institutionalise investment promotion as a continuous, core State function rather than an event-based activity. States presented innovative, sector-specific strategies grounded in local strengths and global demand trends. Rajiv Gauba, Member, NITI Aayog, noted that ease of doing business is a work in progress and stressed the importance of reforms at the municipal level within states. He highlighted the potential for collaboration between NITI Aayog and DPIIT to support states in adopting a principle-based approach to decriminalisation. SCL Das, Secretary, Ministry of MSME, highlighted the need to strengthen the institutional interface of MSMEs with CBIC and State/UT governments.
