TMI BlogLaunch of Regulatory Compliance Portal to minimize Regulatory Compliance Burden for Businesses and CitizensX X X X Extracts X X X X X X X X Extracts X X X X ..... Launch of Regulatory Compliance Portal to minimize Regulatory Compliance Burden for Businesses and Citizens - News and Press Release Dated:- 20-1-2021 - News - India s commitment to reforms is evident from the width and scale of reforms undertaken at pan- India level since 2014 under the visionary leadership of Hon. Prime Minister. This is reflected in the meteoric rise of India s rank in World ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bank s Ease of Doing Business Report from 142 nd in 2014 to 63 rd in 2019. In order to translate the Atmanirbhar Bharat Abhiyan into a reality, the next generation of reforms relating to minimizing regulatory burden on businesses and citizens are being taken up by Central Ministries and States/UTs on a mission mode. Making Government to Business and Government to Citizen interfaces online, tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ansparent and time bound are among the key priorities of the Government of India. Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has been directed by Cabinet Secretary to act as the nodal department for coordinating the exercise of minimizing regulatory compliance burden for citizens and businesses. A systematic exercise across Central Ministr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies/Departments and States/UTs is being undertaken by DPIIT to eliminate/reduce compliances which have an adverse impact on time and cost of businesses. A major initiative in this regard is the launch of Regulatory Compliance Portal by DPIIT on 1 st January 2021. The objective of this portal is to act as a bridge between citizens, industries and the Government in order to minimize burdensome co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpliances. It will also act as a first-of-its-kind central online repository of all Central and State-level compliances. All Central Ministries/Departments and States/UTs would examine laws/regulations/rules under their purview and implement an Action Plan to rationalize and simplify all the processes and remove burdensome compliances, decriminalize laws and repeal redundant Acts. These details ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would be captured and tracked on the Regulatory Compliance Portal. Industry stakeholders from Trade bodies such as CII, FICCI and ASSOCHAM would also be able to submit compliances and proposed recommendations.This will be assessed by concerned Government authorities and suitable action would be undertaken to minimize the regulatory compliance burden. Performance of activities on this portal wo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld be closely reviewed by the senior Government officers. Cabinet Secretary would have real-time comprehensive view of all compliances and status of all requests raised across Central Ministries/Departments and States/UTs. Customized reports of action taken by each Ministry/Department and State/UT also gets generated for monitoring and evaluation. The Regulatory Compliance Portal will be instr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... umental in achieving the vision of a truly Atmanirbhar Bharat and help usher ease of doing business for industry and ease of living for citizens. DPIIT has conducted 21 training sessions from 04.01.2021 to 14.01.2021 for all ministries and states to familiarize them with Regulatory Compliance Portal. Additional 12 training sessions are also underway from 18.01.2021 to 23.01.21. These training s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essions involve detailed information about submitting details in Regulatory Compliance Portal by respective Nodal Officers in Central Ministries and States. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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