Budget 2022: Minimum Government, Maximum Governance
Governed by the principle of ‘Minimum Government – Maximum Governance’, the Union Budget 2022 laid out a roadmap to strengthen trust-based governance with Ease of Doing Business (EoDB) 2.0 and Ease of Living, and a spirit of increased cooperative federalism. This will bring a new era of regulatory enforcement in India.
With the intent to reduce burdensome compliances, the government has repealed 1,486 Union laws in addition to 25,000 compliances that were reduced last year by the government.
Ease of Doing Business 2.0 will bring about a paradigm of change for businesses in India. The new phase of EoDB will be guided by the active involvement of states with the digitisation of manual processes, integration of central and state level systems through IT bridges, single-point access for all citizen-centric services and standardisation and removal of overlapping compliance requirements. Crowdsourcing of suggestions and ground-level assessment of impact with the active involvement of citizens and businesses will also be encouraged. Centre for Processing Accelerated Corporate Exit (C-PACE) will be established to facilitate the voluntary exit of companies in less than six months. An end-to-end online e-Bill system will be also be launched to reduce delays in payments. One Nation, One Registration will be established to facilitate ease of living and doing business.
The scope of Parivesh–a single-window portal for all green clearances launched in 2018–will be expanded to provide information to applicants.
This article was authored by Bhavya Tyagi