New Delhi, Sept 29 (KNN) The standing committee has been set up to identify unnecessary and unproductive regulations that can be scrapped for the growth and development of Indian economy, said Suresh Prabhu, Commerce & Industry Minister.

He said “A standing committee, chaired by the Secretary, Department of Industrial Policy & Promotion (DIPP), has been set up to identify regulations that may be scrapped.”

Addressing the annual session of PHD Chambers in New Delhi, Prabhu emphasized the need for scrapping unnecessary and unproductive regulations which are coming in the way of India’s capacity to become a ten trillion dollar economy.

He also urged the industry chamber to identify such regulations at the earliest.

Although India has made significant progress in ease of doing business but it still has a long way to go, he added.

He also spoke about improving ease of doing business at the district level.

Further, Commerce Minister informed that 6 districts have been selected in five states of the country as a pilot project in order to implement mechanism on enhancing growth in these districts by 3%.

Growth at the district level will lead to increase in the GDP at the national level, Prabhu further added.

The Minister said that this will not only earn more revenue for the government but will also create more jobs in the districts.

However, Prabhu cautioned that environmental protection should never be compromised at any cost.

The Minister also gave away PHD annual awards for excellence for the year 2018.