Economy

DIPP invites stakeholders' comments on draft legislation for new biz ventures

Amiti Sen New Delhi | Updated on January 23, 2018 Published on May 07, 2015

In line with its drive to improve ease of doing business in the country, the Government has invited comments from stakeholders on a draft legislation for replacing multiple prior permissions in starting a business with a pre-existing regulatory mechanism.

The Department of Industrial Policy & Promotion (DIPP), the nodal ministry for granting industry various approvals for starting a business, had set up an expert committee earlier this month under former DIPP Secretary Ajay Shankar to frame the draft legislation.

“Suggestions on the subject (of replacing multiple prior permissions with a pre-existing regulatory mechanism) have been invited from the public,” a notice put up on the DIPP Web stie on Thursday said.

The expert group has been asked to prepare an exhaustive inventory of various prior permissions required, examine the possibility of replacing them with a pre-existing regulatory mechanism, identify the safeguards to be put in place, recommend a framework of the proposed regulatory mechanism and draft the proposed legislation.

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Published on May 07, 2015
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