Government Committed to Reducing Regulatory Burdens: FM Sitharaman

New Delhi, Mar 5 (KNN) Finance Minister Nirmala Sitharaman reaffirmed the government’s commitment to reducing regulatory hurdles and promoting trust-based governance to enhance India’s business environment.

Speaking at a post-budget webinar on ‘MSMEs as Engine of Growth, Manufacturing, Exports, Regulatory, Investment and EoDB Reforms’ on Tuesday, Sitharaman highlighted steps to transform India into a seamless, export-friendly economy.

She emphasized that eliminating unnecessary regulatory bottlenecks in the manufacturing sector would attract both domestic and foreign investments, further boosting economic growth.

“Our government remains steadfast in reducing regulatory burdens and enhancing trust-based governance to improve the ease of doing business.

Through budget announcements, we are taking various steps to make India a seamless, export-friendly economy, where businesses can focus on innovation and expansion rather than paperwork and penalties,” she stated.

In her Union Budget 2025-26 speech, Sitharaman had announced the formation of a high-level committee dedicated to regulatory reforms.

The committee will conduct a comprehensive review of non-financial sector regulations, certifications, licences, and permissions. It is expected to present recommendations within a year to streamline compliance processes and promote ease of doing business.

“The objective is to strengthen trust-based economic governance and take transformational measures to enhance ease of doing business, particularly in inspections and compliance matters,” she reiterated.

The government’s continued focus on regulatory simplification aligns with its broader economic agenda of fostering a robust, competitive, and investment-friendly ecosystem.

With these reforms, India aims to position itself as a reliable global manufacturing hub, facilitating sustainable growth and innovation-driven development.

(KNN Bureau)