Economic Survey calls for simplification of regulations
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IANS
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Fri, Jan 29 2021 17:21 IST
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New Delhi, Jan 29 : The Economic Survey 2020-21 has called for the simplification of regulatory processes in the light of uncertainties amid the coronavirus pandemic.
The survey presented in Parliament by Union Finance Minister Nirmala Sitharaman on Friday noted that administrative processes in India are often loaded with significant procedural delays and other regulatory complexities in decision-making process to make them inefficient and cumbersome for all stakeholders.
In order to resolve the issues, authorities often make attempts to reduce the discretion by having more complex regulations, which is counterproductive and results in even more non-transparent discretion, it added.