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Finance Secretary and Economic Affairs Secretary Ajay Seth on Saturday said that a high-level committee for regulatory reforms in non-financial sector should be starting its work soon to foster ease of doing business as announced in the Budget 2025-26. Finance Minister Nirmala Sitharaman in her Budget speech last month had announced creation of a high-level committee for regulatory reforms for a review of all non-financial sector regulations, certifications, licences, and permissions. "The committee will be expected to make recommendations within a year. The objective is to strengthen trust-based economic governance and take transformational measures to enhance 'ease of doing business', especially in matters of inspections and compliances. States will be encouraged to join in this endeavour," she had said. Observing that a number of structural reforms have been announced in the last 10 years, Seth said, at the same time keeping those reforms in tandem with the technological ...
A majority of MSMEs surveyed expressed that excessive regulation over data and digital tools can create constraints for them and deprive them of tech gears necessary for scaling the business and reaching new markets and customers, a report has said. India SME Forum conducted a survey among more than 1,000 MSMEs for insights into the integration of digital tools within their operations, the report said. A majority of respondents said that excessive regulation could create constraints for MSMEs, depriving them of digital tools necessary for scaling their businesses, reaching new markets, and sustaining competitiveness, it said. Digital tools serve as a cost-effective and scalable means to compete with larger enterprises and establish their brands. "Many MSME members have expressed that the current overall regulatory framework for personal data and non-personal data is overly restrictive, creating compliance burdens that hinder their ability to market effectively and engage with ...
Sebi on Wednesday said it has released the Industry Standards Recognition Manual to provide guidance on the formation and functioning of Industry Standards Fora, which help in implementing regulatory instructions. The Securities and Exchange Board of India (Sebi) had launched a pilot programme for Industry Standards Fora (ISFs) in July 2023, to develop implementation standards for regulatory guidelines. Initially, the ISFs were set up for listed companies and stock brokers. Based on feedback from market participants and industry bodies, while similar fora were later introduced for other stakeholders, including portfolio managers, custodians, designated depository participants, and alternative investment funds, Sebi said in a release. The market participants found these ISFs useful in facilitating good governance and high quality compliance with regulatory directives but also ensuring ease of compliance, it added. However, the ISFs are operating as pilot programmes, as there are no