Simple regulations to process reforms India
Economic Survey calls for simplification of Regulations and process reforms The Economic Survey has called for simplification of regulatory processes in the light of uncertainties in the real world scenarios. The Economic Survey 2020-21 was presented in the Parliament by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman. The Survey states that administrative processes in India are often loaded with significant amount of procedural delays and other regulatory complexities in decision making process making them inefficient and cumbersome for all stake holders. It has highlighted this problem and recommended ways and means to resolve this administrative challenge. The Economic Survey observes that in order to solve the problems, authorities often make attempts to reduce discretion by having ever more complex regulations, which is counterproductive and results in even more non-transparent discretion. According to the Economic ...