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Ease of doing business: Government launches regulatory compliance burden portal

In a move to reduce the burden of compliance for citizens and businesses, the government launched the Compliance Portal, which is a central online repository for all central and national compliance processes.

The Department for  Promotion of Industry and Internal Trade (DPIIT) said on Wednesday that the portal will collect action plans to streamline and simplify processes, eliminate burdensome compliance, decriminalize laws and repeal redundant laws, issued by the center and the states.

The portal launched on January 1.

The goal of this portal is to act as a bridge between citizens, industries and government to reduce burdensome compliance. It will also function as a one-of-a-kind online central repository for all central and state compliance.

Industry stakeholders from commercial bodies such as IIC, FICCI and ASSOCHAM will also be able to provide compliance and suggest recommendations. This will be evaluated by the relevant government authorities and steps will be taken to reduce the burden of regulatory compliance.

Finance Minister Nirmala Sitharaman said in a budget speech in February last year that the government intends to decriminalize economic laws.

According to the statement, the cabinet secretary will have a real-time overview of all compliance and status of all requests submitted in central ministries / departments and states / UTs.

The ministry said: "Making time-bound, transparent and online interfaces between government, business and government among the top priorities of the Indian government is for citizens.

According to the World Bank's Doing Business 2020 report, it takes 1,445 days for an Indian company to resolve a business dispute through a local court of first instance, nearly three times the average time in high-income economies.

India's ranking in Ease of Doing Business 2020 Ranking 14 has improved to 63 out of 190 countries.

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