In news : The Department for Promotion of Industry and Internal Trade (DPIIT) has launched a regulatory compliance portal recently
Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has been directed by the Cabinet Secretary to act as the nodal department for coordinating the exercise of minimizing regulatory compliance burden for citizens and businesses. A systematic exercise across Central Ministries/Departments and States/UTs is being undertaken by DPIIT to eliminate/reduce compliances which have an adverse impact on time and cost of businesses.
A major initiative in this regard is the launch of Regulatory Compliance Portal by DPIIT on 1stJanuary 2021
About the Regulatory Compliance Portal
- The objective of this portal is to act as a bridge between citizens, industries and the Government in order to minimize burdensome compliances.
- It will also act as a first-of-its-kind central online repository of all central and state-level compliances
- All Central Ministries/Departments and States/UTs would examine laws/regulations/rules under their purview and implement an Action Plan to rationalize and simplify all the processes and remove burdensome compliances, decriminalize laws and repeal redundant Acts.
- These details would be captured and tracked on the Regulatory Compliance Portal.
- Industry stakeholders from Trade bodies such as CII, FICCI and ASSOCHAM would also be able to submit compliances and proposed recommendations.
- This will be assessed by concerned Government authorities and suitable action would be undertaken to minimize the regulatory compliance burden.
- Performance of activities on this portal would be closely reviewed by the senior Government officers.
- Cabinet Secretary would have real-time comprehensive view of all compliances and status of all requests raised across Central Ministries/Departments and States/UTs.
- Customized reports of action taken by each Ministry/Department and State/UT also gets generated for monitoring and evaluation.
Significance of the portal
- The Regulatory Compliance Portal will be instrumental in achieving the vision of a truly Atmanirbhar Bharat and help usher ease of doing business for industry and ease of living for citizens.