February 27, 2016 9:03 AM

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DIPP panel suggests steps to cut down multiple permissions needed by investors

A government-constituted expert committee has suggested introduction of credible third-party certification in most areas of regulation and adopting global best practices for emission norms, among other steps to cut down on multiple permissions needed by investors.It has also recommended that there is a need for a standing institutional mechanism within the government for an independent regulatory impact assessment.The expert committee was constituted by DIPP to examine the possibility of replacing multiple prior permissions with a pre-existing regulatory mechanism with adequate safeguards.For start-ups, the committee has suggested that steps like earmarking of mixed land use redevelopment or greenfield development, exempting them from the requirement of seeking building plan approvals would give a boost to the ecosystem.It also said that any inspection of a start-up should be done only with the permission of an officer at a sufficiently higher level and that too, in cases of actionable complaints.The 11-member committee recommended the way forward for creating an investor friendly pre-existing regulatory framework replacing multiple prior permissions with adequate safeguards for making India one of the most attractive investment destinations.It has suggested the ministries of environmentally sensitive sectors such as power, petrochemicals, pharma and steel should join with the Ministry of Environment and Forests and prepare a 20 year perspective geographical plan indicating preferred locations in prioritised categories for their anticipated projects, so that the negative impact of environment is minimised. All these recommendations are aimed at promoting ease of doing business in the country.

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