Centre Scripts 4-Stage Regulatory Reforms Plan

The Union government has formulated a four-stage process to address regulatory reforms for investment. The target date for completion of this four-stage process is fiscal 2002-03.

Prodipto Ghosh, additional secretary in the Prime Minister's Office, told business delegates at the CII partnership summit that stage one of the process would involve identification of specific problems at upstream and downstream process. Speaking at a seminar on "Role of the government: needed a facilitator - not a headmaster" at the summit Ghosh said that stage two would involve case studies to draw generic conclusions about issues in procedures and documents for each upstream and downstream process.

Stage three, Ghosh said, would involve redesigning of procedures and document requirements including amenability to e-governance to each upstream and downstream process to eliminate delays, ambiguity and ensure transparency and accountability.

"The final stage would involve actual adoption of redesigned procedures and document requirements are implemented through the cabinet committee on economic reforms, groups of ministers (CCER, Gom)) and a select group of secretaries. The CCER, Gom has an exclusive mandate to take forward the process of economic reforms," he said.

United States House of representatives, Congresswoman, Jan Schakowsky said that the US and India were facing the fundamental question of integrating with the other global economies.

Commenting on the geopolitical situation between India and Pakistan she pointed out that the US was involved at the highest level to ease out tension in the Indian sub-continent.

Essop Prahad, minister in the office of the presidency, Republic of South Africa said that the South African government was committed to develop business linkages between India and South Africa and both the countries needed to focus on value added exports.