(MENAFN- Live Mint) The Centre is set to unveil the Business Reforms Action Plan (BRAP) 2024, a regulatory overhaul aimed at enhancing the ease of doing business in the country, marking a significant push for its Make in India initiative.
Spearheaded by the Department for Promotion of industry and Internal Trade (DPIIT), the new framework promises to introduce business-friendly reforms to meet the evolving needs of companies and citizens, the commerce Ministry said in a statement on Monday.
"Building on the successes of previous editions, BRAP 2024 aligns with key government initiatives such as Reducing Compliance Burden and decriminalization, while also integrating elements from the World Bank's upcoming B-READY programme," it said.
Read this | Ease of doing business: Govt to form Mediation Council by year-end
According to the ministry, this convergence is expected to streamline regulatory processes, drive economic growth, and strengthen investor confidence in India's business landscape.
Originally launched in 2014-2015, BRAP embodies the spirit of competitive federalism, with six successful iterations aimed at reshaping India's regulatory framework. The approach evaluates states and union territories (UTs) on the basis of reform implementation.
"The upcoming BRAP 2024 framework introduces an innovative assessment methodology, blending evidence and feedback-based evaluations for a more comprehensive and dynamic approach," the statement said.
By focusing on reducing approval times, promoting online service delivery, and leveraging platforms like the National Single Window System and PM Gati Shakti, BRAP 2024 seeks to foster a more transparent and efficient business ecosystem, it added.
BRAP has expanded significantly from its initial scope, covering crucial sectors such as labour, environment, taxes, land administration, and utility permits. The 2024 plan incorporates new focus areas like information and communication technology (ICT) adoption and process re-engineering through the Time and Document Study (TDS) to further enhance government-to-business service delivery.
"BRAP 2024 continues its mission to simplify processes, reduce compliance burdens, and implement digital solutions, positioning India as a preferred global investment destination," the ministry added.
Also read | Improve ease of doing business to cut global supply chains' dependence on China
The reforms cover key areas, including the Information Wizard, Single Window Systems, Online Building Permission Systems, and inspection and labour reforms.
MENAFN30092024007365015876ID1108728918
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.