Regulations Hampering Growth to Scrapped-Suresh Prabhu

Commerce & Industry and Civil Aviation Minister, Suresh Prabhu, emphasized the need for scrapping unnecessary and unproductive regulations which are coming in the way of India’s capacity to become a ten trillion dollar economy.  He was addressing the Annual Session of PHD Chambers in New Delhi today. The Minister said that a standing committee, chaired by the Secretary, DIPP, has been set up to identify regulations that may be scrapped. He also urged the industry chamber to identify such regulations at the earliest.

The Commerce Minister said that although India has made significant progress in ease of doing business but it still has a long way to go. Suresh Prabhu also spoke about improving ease of doing business at the district level. He informed that 6 districts have been selected in five states of the country as a pilot project in order to implement mechanism on enhancing growth in these districts by 3%.  Growth at the district level will lead to increase in the GDP at the national level. The Minister said that this will not only earn more revenue for the Government but will also create more jobs in the districts. Suresh Prabhu however cautioned that environmental protection should never be compromised at any cost. The Minister also gave away PHD annual awards for excellence for the year 2018.