Budget 2016: Laws being amended to promote ease of business, says President Mukherjee

He said significant steps have been taken to reform institutions, simplify procedures and repeal obsolete laws

Obsolete legistations are being scrapped and some being amended to encourage the government's ease of doing business policy, President Pranab Mukherjee said today highlighting the role of laws in cutting down red tape and encouraging business environment in the country.

"My government has taken several measures to improve the quality of governance. Significant steps have been taken to reform institutions, simplify procedures and repeal obsolete laws. Close to 1800 obsolete legislations are at various stages of repeal," he said in his address to the joint sitting of both Houses of Parliament on the opening day of the Budget session.

He said dedicated commercial courts and commercial divisions in high courts have been established. "For speedy resolution of commercial disputes, the long-overdue amendments to the Arbitration Act have been made," he said.

Besides the GST Bill, Prime Minister Narendra Modi's ambitious plan to scrap obsolete laws had became another casualty of the logjam in the Rajya Sabha with two such bills seeking to repeal over 1,000 such Acts failing to get Parliamentary approval in the winter session.

While Parliament has passed two bills to repeal a total of 125 obsolete laws, another two bills which seek to scrap a total of 1053 Acts are pending in the Rajya Sabha since the last budget session.