Nov 17, 2021 | Posted by Admin

Compliance

Centre, states working to eliminate burdensome compliance for businesses: Goyal

Commerce and Industry Minister Piyush Goyal asserted that the Centre along with states is making efforts to eliminate burdensome compliances, reduce the need for licensing and rationalise the renewal process with an aim to promoting ease of doing business in the country. He made the comment while addressing the CII National Conference on Ease of Doing Business for Aatmanirbhar Bharat on Saturday.

The Commerce Minister also suggested that the industry and the government together can engage with the judiciary on issues like fast resolution of commercial disputes and capping adjournments.

“Our effort, along with states, is to eliminate burdensome compliances, or reduce the need for licensing, reduce the regulatory burden, permissions, and rationalise the renewal process. But it only happens when we work together. Self regulation and self certification should be the way forward," Goyal said.

To speed up commercial dispute resolution, the Union minister assured the government is working on making mediation the preferred mechanism rather than everybody rushing to courts.

He added that members of industry body CII can engage some of the top lawyers and help the government understand what is feasible under the realm of India's systems.

“Some policy changes may be required , infra changes may be required, some amendment to laws may be required…But there are some which are beyond my control, for example the writ jurisdiction.

"So when we do arbitration, we believe that we are cutting down the court processes but I am told that I cannot touch the writ jurisdiction of the court. Similarly you spoke about capping adjournments, I myself is the proponent of that, but it needs the buying by the judiciary.

"So may be what we need to do is government and industry both go together and engage with the judiciary….If both of us go together with our difficulties, I can assure you, we will not find the courts or honourable judges lacking in their support…They are in fact wishing to support us," he said.

Further, the minister appealed to the industry to visit the Regulatory Compliance Portal and industrial land bank portal and give their feedback to the government.

"We are looking at the availability of industrial land at affordable prices…Self-regulation must be the norm. I urge industries to suggest ways to move towards transparency and self-regulation," he said.

On licence renewals, the minister said he is now looking at changing the frequency of renewals and approvals.
“In many Cases I am completely removing renewals so that all you need to do is update the information suo moto," he said.

Courtesy : Mint