Working on the next 100-day agenda of transformation to push economic growth: Piyush Goyal
The minister said that the government is aiming to reform processes to improve the business environment of the country."We are looking to make life of our citizens better through ease of living, where we are all focused on ease of doing business by removing regulatory overburden, reducing compliances, supporting industry to fearlessly invest and grow," he said, adding, "we are making win-win alliances with different parts of the world."
So far, India has charted out balanced, fair and equitable free trade agreements with the United Arab Emirates, Australia, Mauritius, four nation bloc EFTA and the UK.
The ministry is further looking at proposals such as liberalising foreign direct investment norms, easing investments from neighbouring countries, more tax benefits for startups, easing certain environmental norms for the leather and footwear industry, liberalised rules to promote exports through e-commerce hubs, and integrating lab testing and certification requirements for various sectors.On Independence Day Prime Minister Narendra Modi announced the formation of a task force for 'next-generation reforms' and revision of GST laws. "We have decided to constitute a task force for next-generation reforms. This task force will work within a set time frame to align existing laws with the needs of the 21st century and prepare the nation to become Viksit Bharat by 2047," Modi announced from the Red Fort. The 'Task Force for Next-Generation Reforms' will evaluate all current laws, rules, and procedures related to economic activities.
The panel will work within a set timeline to reduce compliance costs for startups, MSMEs, and entrepreneurs. The committee will provide freedom from fear of arbitrary legal actions, ensure streamlining of laws for ease of doing business.
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