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Jan Vishwas Bill 2 In The Works To Enhance Ease Of Compliance For Industry: Union Minister Piyush Goyal

Updated: Dec 08, 2023 03:15:29pm

Jan Vishwas Bill 2 In The Works To Enhance Ease Of Compliance For Industry: Union Minister Piyush Goyal

New Delhi, Dec 8 (KNN) The government is working on the Jan Vishwas Bill 2 with additional provisions to decriminalize and make compliance easier, said Union Minister for Commerce and Industry Piyush Goyal on Thursday.

“We are already working on it and urge the industry to come up with ideas as we plan to come up with Jan Vishwas Bill 2,” he said.

Addressing the inaugural session of ‘FICCI’s 96th Annual General Meeting and Annual Convention’ on the theme- ‘The World’s Growth Engine’, he emphasised that the incredible India is gradually converting into inevitable India and that is going to be the journey for next 25 years.

“We are looking at a self-reliant and an Atmanirbhar Bharat- a Bharat that is not only vocal for local but a Bharat which goes global. The Bharat of today will indeed be the world’s growth engine and collectively India is going to be powering the world economy for several decades to come. Our mission is clear to make India a developed nation with a 10x growth to become a $35 trillion economy by 2047,” he added.

Speaking on the recently passed the Jan Vishwas (Amendment of Provisions) Act, 2023 he said that it is an act to amend certain enactments for decriminalizing and rationalizing offenses to further enhance trust-based governance for ease of living and doing business.

Highlighting the potential of Indian economy and forex reserves, he said that at current levels of current account deficit or levels of trade deficit, our foreign exchange reserves are enough for the next 5-6 years without any threat to India’s economy or our foreign currency valuations.

The way country is transforming towards innovative India, he stated that 3 pillars are key to sustain this growth. “Pillar of strong fundamentals of the economy, the pillar of an aspirational India and the pillar of massive investments directed towards infrastructure is what will define the next 3 decades of India,” he asserted.

The Union Minister also stressed that the industry should scale up to meet the global competition. “I would urge the industry to focus on the two elements which the world today recognizes. They include inclusive growth and sustainable growth, and holistic development of the country will help us engage with the world with greater confidence,” he highlighted. 

Subhrakant Panda, President, FICCI said, “The Q-2 GDP data released recently reflects the appropriateness of the theme of FICCIAGM. India is a rare bright spot despite headwinds due to a complex geopolitical scenario. A trifecta of a large domestic market, sustained reforms and favourable demographics has really propelled India into being the world’s growth engine. There is clearly an opportunity for India.”

(KNN Bureau)


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