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Mint
41 minutes ago
- Mint
Govt on 100-day mission to fast-track growth: Piyush Goyal
New Delhi: The Union government is embarking on a 100-day mission to fast-track the country's journey to becoming a developed nation, commerce and industry minister Piyush Goyal said at an event on Monday. Virtually addressing the second Lokmat Global Economic Convention in London, Goyal said no power can stop India from becoming a developed nation. The government will follow Prime Minister Narendra Modi's call on 15 August to accelerate the country's development journey and implement the vision of a developed nation, he said. Goyal also referred to Modi's five pledges, which he articulated in his 2022 Independence Day speech. These included removing any trace of colonial mindset and taking pride in one's roots. On Friday, Modi had in his Independence Day speech focussed on self-reliance, innovation, and citizen empowerment. He also emphasised that indigenous capabilities, including Made-in-India weapons, enable the country to act decisively and independently, proving that national security cannot rely on foreign dependence. Modi also then urged Indian researchers and the youth to develop jet engines within the country, ensuring that future defence technology is entirely home-grown and self-reliant. He also announced then that India will launch Made in India semiconductor chips by the end of 2025, reflecting the nation's growing strength in critical technology sectors. In his address, Goyal referred to the global confidence in India's economic growth, noting experts' assessment that India is on course to emerge as the world's most sought-after consumer market and a top investment destination. The minister said this was the result of the 'make in India', and self-reliance campaigns, which are strengthening supply chains and building resilience. The minister said the government was reforming processes to improve the quality of life and the ease of doing business by removing regulatory burdens, reducing compliance requirements, and supporting theindustry's fearless investment. Goyal said that India has concluded balanced, fair and equitable free trade agreements with the United Arab Emirates, Mauritius, the four nations of the EFTA group (Switzerland, Norway, Liechtenstein, Iceland) and the UK, and is making rapid progress with other engagements. He said these efforts are collectively ensuring success for small businesses, farmers and the animal husbandry sector, while protecting the interests of India's dairy industry and expanding access for Indian goods and services across global markets. Goyal urged people to be 'vocal for local', referring to a campaign for strengthening local economies and fostering grassroots entrepreneurship. He added that the bedrock of becoming a developed nation is self-reliance.
Mint
3 hours ago
- Mint
Goyal introduces Jan Vishwas Bill 2.0 in Lok Sabha, proposes decriminalisation of 288 provisions across 16 Acts
New Delhi: Commerce and industry minister Piyush Goyal on Monday introduced the Jan Vishwas (Amendment of Provisions) Bill, 2025 in the Lok Sabha, expanding the government's reform agenda for ease of doing business and ease of living. The Bill, approved earlier by the Cabinet, seeks to amend 355 provisions across 16 central Acts covering 10 ministries and departments, including proposals to decriminalize 288 provisions and rationalize penalties in another 67. Goyal also requested that the Bill be referred to a Select Committee, which will submit its report by the opening day of the next Parliament session. According to a commerce ministry statement, the Lok Sabha Speaker will choose the committee members, and the panel will submit its report by the first day of the next session. 'This is another step in the government's commitment to reducing compliance burden and ensuring a more business-friendly environment,' a senior official said, noting that the legislation builds on the Jan Vishwas Act, 2023, which decriminalized 183 provisions in 42 Central Acts. The 2025 Bill extends this framework further by introducing measures such as advisories or warnings for first-time contraventions in 76 cases, replacing imprisonment clauses for minor, technical or procedural defaults with monetary penalties, and empowering designated officers to impose penalties through administrative mechanisms to reduce the judicial burden. The proposed law also introduces a provision for an automatic 10% increase in fines and penalties every three years to maintain deterrence without requiring fresh legislative amendments, as per the ministry statement. In addition to business-related provisions, the Bill also covers consumer-facing aspects, with 67 amendments under the New Delhi Municipal Council Act, 1994, and the Motor Vehicles Act, 1988, aimed at improving ease of living. Among the 16 Acts covered, four—the Tea Act, 1953, Legal Metrology Act, 2009, Motor Vehicles Act, 1988, and Drugs and Cosmetics Act, 1940—had already been part of the 2023 exercise and are proposed for further decriminalization. As per the statement, the new Bill reflects the policy thrust of 'minimum government, maximum governance,' seeking to create a balance between regulatory oversight and business convenience. Mintreported on 31 March that the government had been preparing to decriminalize more than 100 offences under various laws by the end of this year to improve investor confidence and unlock potential for faster economic growth. The decriminalization drive, announced by finance and corporate affairs minister Nirmala Sitharaman on 1 February, entails removing criminality from minor violations and procedural lapses, dropping outdated provisions from the law, and making the regulatory regime more suited to current economic realities.
Time of India
3 hours ago
- Time of India
Govt to undertake 100-days agenda to fast-track India's journey towards developed nation, Commerce minister says
The government is embarking on the next 100 Days Agenda of Transformation to take India on a fast track to a developed nation , stated Union Minister of Commerce and Industry Piyush Goyal at the 2nd Lokmat Global Economic Convention on Monday. Independence Day 2025 Modi signals new push for tech independence with local chips Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji Subhas Chandra Bose gave India its own currency Addressing the gathering virtually, the Minister said that in the next 100 days, the government will follow the clarion call given by Prime Minister Narendra Modi on 15th August to take India forward on a fast-tracked pathway, implement the vision of a developed nation by 2047, follow the 'Panch Prans' (Five Pledges) which have been articulated, and ensure that every citizen takes it upon themselves, as a sense of duty, to make India a prosperous and developed nation by 2047. He said that this effort will see the work of 140 crore Indians come together as one team, one family, erasing the colonial mindset, respecting India's rich history, culture and tradition, and focusing on the unity and integrity of the nation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Our healthy baby has a hole in his heart, please help us! Donate For Health Donate Now Undo He stated that no power on earth can stop India from becoming a developed nation. Minister Goyal also referred to the global confidence in India's economic growth , noting experts' assessment that India is on course to emerge as the world's most sought-after consumer market and a top investment destination. Live Events He said this progress is the result of the contribution of 140 crore Indians through programmes such as Make in India and Atmanirbhar Bharat , which are strengthening supply chains and building resilience. He added that India has arrived on the global stage and that, as Prime Minister Modi has said, "this is our time, the right time." The Minister paid tribute to Lokmat Group founder Jawaharlal Darda, describing him as a veteran freedom fighter and a tall luminary who makes every Maharashtrian proud. Minister Goyal highlighted that Maharashtra is the largest economy in the country and contributes the most to India's growth story. He said that in this era of transformation, the government is reforming processes to improve ease of living and ease of doing business by removing regulatory burdens, reducing compliance and supporting industry to invest fearlessly. The Minister said that India has concluded balanced, fair and equitable free trade agreements with the United Arab Emirates, Mauritius, the four nations of the EFTA group (Switzerland, Norway, Liechtenstein, Iceland) and the United Kingdom, and is making rapid progress with other engagements. He said these efforts are collectively ensuring success for MSMEs , farmers and the animal husbandry sector, while protecting the interests of India's dairy industry and expanding access for Indian goods and services across global markets. Reiterating Prime Minister Narendra Modi's message, Minister Goyal urged everyone to be " vocal for local ," transform processes and governance practices and focus on quality and cost competitiveness. He added that the bedrock of Vikshit Bharat is Atmanirbhar Bharat.
