UPSC Articles
Regulatory Compliance Portal launched
Part of: GS Prelims and GS- III – Economy
In news
- Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has launched a Regulatory Compliance Portal to minimize Regulatory Compliance Burden for Businesses and Citizens.
Key takeaways
- Objective: To act as a bridge between citizens, industries and the Government in order to minimize burdensome compliances.
- 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.
- These details 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.
