Reforms

Centre's district-level playbook to steer business reforms in states

The DPIIT has told states to conduct a training need assessment (TNA) every year for officers and staff involved in investment promotion and facilitation

Centre to notify Labour Code rules before winter session of Parliament

The four Codes that are part of the Centres's attempts to enact labour reforms have remained stuck, with neither the Centre nor the states moving to notify them yet

US tariffs a wake-up call for India to push bold reforms: Amitabh Kant

India should view US tariffs as a wake-up call to implement bold and once-in-a-generation reforms and diversify its export markets for long-term growth, former Niti Aayog CEO Amitabh Kant said on Wednesday. Addressing the BN Memorial Lecture organised by IRS (C&IT) Association, Kant said, "This is India's century, irrespective of Trump's tariff, I strongly believe that Trump has given us a huge opportunity for reforms". On the US excuse of Russian oil imports for tariff hike, Kant said, "It's not about Russian oil. If it were the issue, then China buys much more Russian oil and Turkey buys as much Russian oil". The former G-20 Sherpa also talked about disruption in the global supply chain and India's need to improve administrative efficiency for the rapid expansion of production infrastructure. "Trump's tariffs must be a wake-up call for India. The irony is striking: the U.S. is actively negotiating with Russia and China, the latter being the largest buyer of Russian oil, yet ...

FM Sitharaman briefs GST GoMs on need for sweeping tax reforms

Finance Minister Nirmala Sitharaman on Wednesday presented to GoMs from states her government's plans for sweeping reforms in the GST regime that involves slashing tax rates and easing compliance burden for businesses. The GoMs on rate rationalisation, insurance taxation and compensation cess will over two days deliberate on the Centre's 'next-gen' GST reforms under which tax will be levied at 5 and 18 per cent rates. A special 40 per cent rate has been proposed on 5-7 items, including sin goods. GST is currently levied at 5, 12, 18 and 28 per cent. While food and essential items are either at nil or 5 per cent rate, luxury and demerit goods are in 28 per cent slab, with a cess on top of it. The finance minister's address to the GoMs was for about 20 minutes during which she elaborated on the Centre's proposal, a source said. She explained the necessity for GST reforms to the states, the source added. The group of ministers (GoM) on compensation cess was set up to decide on the ..

Centre for exempting insurance premium from GST: Samrat Choudhary

The Centre has proposed exempting life and health insurance premium from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST. The Group of Ministers (GoM) on life and health insurance will submit its report to the GST Council. The report will also include views and concerns expressed by some state finance ministers, he said. "The Centre's proposal is clear that the insurance sector's individual and family (policies) should be exempt from GST. This has been discussed and the GoM report will be presented to the Council," Choudhary told reporters here after the meeting of the GoM. "All members have given their approval for lowering rates. Some states have given their own views," he said, adding a final call on rates will be taken by the Council. Choudhary is the convenor of the 13-member state GoM on health and life insurance. The Centre's proposal on insurance is par

PM Modi chairs top-level meet to discuss roadmap for next-gen reforms

Prime Minister Narendra Modi on Monday chaired a high-level meeting, which included top Union ministers, secretaries and economists, to deliberate on the roadmap for the next generation reforms, one of the key announcements he had made in his Independence Day address. Union ministers Rajnath Singh, Amit Shah, Nitin Gadkari, Nirmala Sitharaman, Shivraj Singh Chouhan, Piyush Goyal and Lalan Singh attended the meeting. Modi had on August 15 announced the formation of a task force for 'next-generation reforms' and revision of GST laws, as he devoted a major part of his 103-minute speech on making India self-reliant in a host of sectors ranging from semiconductors to fertilisers.

Press Sewa portal to simplify publisher registration: PRGI Yogesh Baweja

Press Registrar General of India (PRGI) Yogesh Baweja on Monday said the Press Sewa portal has been introduced as a single-window solution to simplify the registration process. This initiative aims to enhance transparency, accelerate approvals, and improve the ease of doing business for publishers, he said at a workshop titled Vartalap' addressing the issues faced by publishers, organised by the Press Information Bureau (PIB), Hyderabad, under the Ministry of Information and Broadcasting, an official release said. PIB Hyderabad Additional Director General Shruti Patil highlighted that this was the first interactive session of its kind in Telangana, designed to clarify publishers' queries and provide guidance on the new Press and Registration of Periodicals Act (PRP Act). She also announced that PIB Hyderabad, with the support of PRGI, would soon establish a dedicated helpline for publishers. Deputy Press Registrar Ashutosh Mohle explained that the entire registration process has ..

Turning insult into inspiration: A call for bold national reforms

If we want to turn insult into inspiration, we must rekindle the hunger for bold, meaningful reforms among our people

Sebi board likely to discuss regulatory reforms at Wednesday meeting

Markets watchdog Sebi's board is likely to discuss a series of regulatory reforms during its upcoming meeting on Wednesday. Several of these proposals have already been floated for public consultation, indicating a broader push towards refining the regulatory landscape. This would mark the second board meeting under the chairmanship of Tuhin Kanta Pandey, who assumed office on March 1. One of the key agenda items is the simplification of rules and regulatory compliance for Foreign Portfolio Investors (FPIs) investing exclusively in Indian Government Bonds (IGBs) through the Voluntary Retention Route (VRR) and the Fully Accessible Route (FAR). This move is aimed at attracting more long-term bond investors to the Indian market, people aware of the development said. Currently, foreign investors can invest in Indian debt through three routes-- General, VRR, and FAR. The VRR and FAR routes are comparatively liberal, as they allow investments without many of the restrictions, such as ...

To turn crisis into opportunity, India needs a reform playbook reboot

India must revisit how reforms are designed, executed and shared between the Centre and states, if it wants to seize the global moment and boost long-term economic growth

Land reform law is a step towards innovation: Uttarakhand CM Dhami

Chief Minister Dhami also added that the state government has taken a decision in accordance with the public sentiments and expectations of the people of the state

Stage set for next gen reforms: President Murmu in her I-Day eve address

President spoke of the programmes and schemes that the government has undertaken for the welfare of the poor, women, farmers, and the youth

Agenda for regulatory reform

Improving the governance of omnipotent regulators who currently dominate the economy and the lives of Indian citizens should be at the top of the new government's priorities

Strong economic base to help new govt make India a developed nation by 2047

India's world record beating economic growth rate together with robust tax revenues, a fast expanding digital and financial infrastructure and a strong manufacturing sector will give the new government a base for unleashing next generation reforms that may make the country a developed nation by 2047. The new government will however have to tackle with problems like unemployment and rural distress, which seemed to have played a major role in voting pattern in states like Uttar Pradesh, while also keeping inflation under control. Given that no party, including BJP, have a clear majority of its own, tough reforms like big ticket privatisation and labour law reforms may take a backseat. As per the available trends, BJP is likely to win about 240 seats in a 543- member Lok Sabha. It would have to rely on its allies like TDP and JDU to form the next government. The new government will have to build upon the 8.2 per cent GDP growth recorded in 2023-24 and carry on with the reforms to make

Taking states along

Next govt should build consensus on reforms

India needs 'hard reforms' to reach GDP growth of 7.5%, says HSBC

Prime Minister Narendra Modi - who is seeking a third term in elections that run until June 1 - has been campaigning on making India a developed nation by 2047

Next gen reforms to top third-term agenda, says FM Nirmala Sitharaman

Sitharaman said that among other areas of focus, the government is also going to ramp up investment in the logistics sector which has immense untapped potential along with tourism

PM Modi calls for reform of multilateral institutions at World Govt Summit

Modi said India has brought in its own reforms based on the mantra of 'Minimum Government, Maximum Governance' and that governments should interfere as little as possible in the lives of people

RBI Deputy Governor urges for stringent governance standards in UCBs

He added that it is essential for the director to understand the bank's financial statements as it is important for laying down underwriting standards and assessing credit proposals

Govt okays Rs 235 cr for administrative reforms, public grievance redressal

The Centre has approved an outlay of Rs 235 crore for a revamped scheme for administrative reforms to be implemented in the next two financial years in the the Department of Administrative Reforms and Public Grievances, an official statement issued on Thursday said. The scheme will take up ambitious next-generation administrative reforms matching with the new aspirations of 'Viksit Bharat', it said. This revamped scheme has two verticals -- administrative reforms and a comprehensive system for redressal of public grievances, said the statement issued by the Personnel Ministry. "The government has approved an outlay of Rs 235 cr for revamped scheme for administrative reforms of DARPG to be implemented in next two years (2024-25 and 2025-26 ) of the 15th Finance Commission cycle," it added. The scheme for administrative reforms with an allocation of Rs 107 crore seeks to utilise the resources for Prime Minister's awards for excellence in public administration for 2024-25 and 2025-26,