Regulatory Compliance Portal lunched by DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) recently launched a regulatory compliance portal. The portal is to act as a bridge between the industries, citizens and the government in minimising burdensome compliances.
About the Portal
- It is the first central online repository portal for all state and central level compliances.
- The portal will capture and track the following actions:
- The Central ministries, states, union territories and other departments will examine regulations, laws and rules under their purview.
- They will then implement an action plan to simplify these processes.
- They will mainly remove burdensome compliances, repeal redundant acts and decriminalise laws. These actions are to be tracked by the portal.
- The portal will also allow stakeholders of CII (Confederation of Indian Industry) to submit compliances and recommendations.
- Training sessions are being conducted by DPIIT for the government officials to get familiarised with the portal.
Objective of the portal
- To reduce compliance burden
- To simplify interfaces between government and citizens
- To increase manufacturing scale by reducing compliance burden
- To remove obsolete acts
- To make Indian industries competitive
The portal will increase ease of doing business in India. India ranked 142nd in 2014 in the World Bank’s Ease of Doing Business ranking. In 2019, India ranked 63rd. Also, the portal will be instrumental in achieving the vision of Atma Nirbhar Bharat.
The GoI has lately taking several measures to boost the industrial sector of the country. In 2015, the Business Reform Action Plan (BRAP) was begun. In 2019, BRAP with a list of eighty reforms were implemented. These reforms were related to labour, environment, access to information and single window system. Industrial Corridors were set up. Invest India was launched to transform the investment climate in the country by simplifying business environment for investors.
Category: Economy & Banking Current Affairs - 2022
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