Sunday, October 2, 2022

PM raises compliance law debate: How much regulation is right?

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Prime Minister Narendra Modi, in his Independence Day address to the nation, raised the debate of compliance law and urged the central and state government to review rules and regulation and wield out any unnecessary ones. He said that the ease of living and ease of doing business are both important. For that to happen in a smooth manner, it is important that labour codes and tax compliance are made simpler.

Emphasising the Centre’s commitment to undertake next generation reforms and to ensure last mile service delivery, he said that the government itself was in the driving seat in the past, but now citizens need to be freed from unnecessary regulations and laws and claimed that about 15, 000 compliances have been removed during coronavirus pandemic itself.

Extending his support to startups, PM Modi said that new start-ups are coming up in tier 2 and tier 3 cities, and the government is supportive of them in terms of policy and other issues. He highlighted that about 1000s of start-ups began amid the pandemic, and many have become unicorns. They are a new kind of wealth creators.

He further emphasised that in order for the country to reform there has to be political will, smart and good governance, and the world is seeing that there is no lack of it. All we need is to work together for generation of infrastructure, and for new age technology because modern development rests on world-class infrastructure.

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