Keen to improve business climate, Commerce Minister Nirmala Sitharaman said tax and regulatory authorities are being asked not to go on an overdrive and asserted the government is not there to obstruct or create hindrances.
She said regulatory quality will improve but not the frequency and intensity.
Sitharaman said the government is spending on creation of modern infrastructure to cut logistics cost, besides promoting online paperwork to reduce human interface.
“We are not there to obstruct or create hindrances. So even those little narratives that you (industry) hear about, you know, taxation officials being on an overdrive, or regulatory authorities being on an overdrive, are all being clearly spoken to, making sure that such an approach shall not be welcome.
“Regulatory quality will improve, regulatory content will improve but not the frequency or the intensity with which they regulate,” she said here CII’s ‘Invest North’ event here.
The minister asked the industry to engage more and more with the central and state governments for suggesting steps to improve ease of doing business in the country.
She said that now states are competing with each other on improve their business climate.
This year, the ministry is evaluating states on real time basis, which means that the rankings are dynamic. The evaluation is being done based on 340 parameters as against 91 last year.
Urging all the states to participate in this, she said 12 states have fulfilled over 75 per cent of these parameters.
With the relaxation in the FDI policy in several sectors, she said, lot on inquiries are coming on those.
Further Sitharaman said to reduce logistic cost for traders and domestic players, the government is working on reviving and expanding inland waterways.