 "Finance Minister Nirmala Sitharaman")
Finance Minister Nirmala Sitharaman said on Tuesday that the government is committed to simplifying regulatory processes and is set to introduce Jan Vishwas Bill 2.0 to decriminalise over 100 provisions. She was addressing a post-Budget webinar via video conferencing on 'Regulatory, Investment and EODB (ease of doing business) reforms’.
The union finance minister said that in a bid to improve ease of doing business, the government is steadfast in reducing regulatory burden and enhancing trust-based governance. “Through the Budget announcements, we are taking various steps towards making India a seamless and export-friendly economy, one where the businesses are free to work on innovation and expansion, and not on paperwork and penalties,” she said.
She further said that decriminalisation of business-related loss reduces the legal risks, allowing Indian industries to operate with greater confidence. “Robust manufacturing sector, free from unnecessary regulatory bottlenecks will further attract both domestic and foreign investments, driving economic growth and positioning India as a global player. Our government has over 42,000 compliance removed and over 3,700 legal provisions have been decriminalised since 2014. Will bring Jan Vishwas Bill 2.0 to further decriminalise over 100 provisions in various laws to further simplify processes for businesses,” she said.
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Watch Live: Smt @nsitharaman's address during the post-budget webinar on the theme: 'Regulatory, Investment and EODB reforms'. https://t.co/x7KtKMGaih
— Nirmala Sitharaman Office (@nsitharamanoffc) March 4, 2025
Jan Vishwas Bill 2.0
In her Budget 2025 speech, FM said the government will introduce the Jan Vishwas Bill 2.0 to decriminalise over 100 more outdated legal provisions to promote the ease of doing business in the country.
The announcement follows the success of the Jan Vishwas (Amendment of Provisions) Act, 2023, which decriminalised over 180 legal provisions, including copyright, trademarks, patents, and geographical indications of goods act, replacing penalties for minor offences with monetary fines.
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