Regulatory Compliance Portal launched

  • IASbaba
  • January 23, 2021
  • 0
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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.

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