New Delhi, April 8 (KNN) A committee to recommend a simpler way to replace innumerable permissions required to start an enterprise has been constituted by the government. Ajay Shankar, a former secretary of DIPP, will head the committee which will comprise of 10 members.

The committee’s formation is in line with the proposal made by the Finance Minister Arun Jaitley in his budget speech of appointing a committee to examine the possibility and prepare a draft legislation where the need for multiple prior permissions can be replaced with a pre-existing regulatory mechanism thus making India an investment destination that permits the start of a business in accordance with publicly stated guidelines and criteria.
 
In the backdrop of Prime Minister Narendra Modi’s aim to improve India’s position to the top 50 in the World Bank rankings on the ease of doing business from the current 142, these measures are expected to give a major boost to it.
 
Ease of doing business with respect to any sector is a major issue for industry and it becomes important to make it a success in ‘Make in India’ campaign in the manufacturing sector.
 
According to the Department of Industrial Policy and Promotion (DIPP), the objective of the committee is to improve the business climate in the country, study the necessity of several prior permissions, changing these with a regulatory mechanism, identify the safeguards that need to be incorporated to do this, recommend a framework of the proposed regulatory mechanism and draft the proposed legislation.

DIPP also plans to rank state governments on the basis of the 98 action points that it has formulated.

An e-biz portal that integrates 14 regulatory permissions in one place has been initiated. (KNN/SS)