Govt to unveil deregulation panel for ease of doing business by May this yr

THE PROPOSED PANEL IS BEING CONCEPTUALISED BY A TASK FORCE LED BY UNION CABINET SECRETARY TVS SOMANATHAN

- Zia Haq

NEW DELHI: The Union government is likely to unveil a national deregulation commission by May this year to recommend a set of next-generation economic reforms aimed at easing rules, speeding up approvals, and dismantling barriers faced by businesses, especially smaller enterprises, an official with knowledge of the matter said.

The proposed commission, being conceptualised by a task force led by Union cabinet secretary TVS Somanathan, will suggest policies to roll out an "ease of doing business 2.0" plan to crank up growth amid challenging global conditions, an official said on condition of anonymity.

Aside from Somanathan, the task force comprises key officials from the Niti Aayog and the Prime Minister's Office, HT has learnt.

The development comes days after Prime Minister Narendra Modi said that his government would constitute a deregulation commission to cut the role of the state in governance. "It is my conviction that there should be less interference of the government in society. For this, the government is also going to constitute a deregulation commission," he said at an event on February 16.

The task force has been holding meetings since January and has identified key reforms, including cutting down on so-called no-objection certificates from multiple authorities, and fully digitising business approvals with a focus on reviewing state-level regulations, the official said.