DIPP panel suggests ways to slash multiple permissions needed by investors

An expert committee expert by the government 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.

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.

All these recommendations are aimed at promoting ease of doing business in the country.