Govt to deregulate more sectors, reduce red tape

Union budget set to offer road map to reduce compliance burden on businesses

- Gireesh Chandra Prasad

None of the people quoted above, however, mentioned sectors or specific regulations that are under review.

Queries emailed on Friday to the finance ministry, Niti Aayog, and the Prime Minister's Office remained unanswered at the time of publishing.

Finance minister Nirmala Sitharaman's budget proposals for the next fiscal 2025-26—to be presented on 1 February—will be keenly watched as India's urban consumption has slowed and the pace of growth cooled.

GDP expanded 5.4%, its slowest pace in seven quarters, in the second quarter ended September, compared with 8.1% a year earlier and 6.7% in the three months prior.

Improving the ease of doing business by reducing compliance burden and fostering a more dynamic business environment is on the agenda, said the second person quoted earlier. "The issue of deregulation also came up during Prime Minister Narendra Modi's recent budget consultation with economists. We could expect budget announcements."

India's industry lobby Confederation of Indian Industry (CII) backs easier regulations to boost growth.