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CII’s call to action: 10 critical reforms to streamline business before Budget 2025

CII’s call to action: 10 critical reforms to streamline business before Budget 2025

CII Director General Chandrajit Banerjee highlighted the need to simplify regulatory frameworks, reduce compliance burdens, and boost transparency as key priorities to drive economic growth and job creation.

Business Today Desk
Business Today Desk
  • Updated Jan 12, 2025 3:40 PM IST
CII’s call to action: 10 critical reforms to streamline business before Budget 2025

Ahead of the Union Budget 2025-26, the Confederation of Indian Industry (CII) unveiled a 10-point agenda to enhance ease of doing business in India, emphasizing urgent policy reforms. CII Director General Chandrajit Banerjee highlighted the need to simplify regulatory frameworks, reduce compliance burdens, and boost transparency as key priorities to drive economic growth and job creation.

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“Compliances related to land, labor, dispute resolution, taxes, and the environment offer immense scope for reduction. Addressing these will significantly improve competitiveness and spur employment generation,” Banerjee said in a statement.

The 10-point agenda for reforms:

Single-window approvals: CII called for all central, state, and local regulatory approvals to be integrated through the National Single Window System (NSWS) to ensure transparency and faster clearances.

Time-bound services: Introducing legislation mandating public authorities to deliver timely services and grievance redressal with deemed approval if timelines are breached.

Dispute resolution: Enhancing court capacity and expanding alternative dispute resolution mechanisms to reduce case backlogs. Expanding the National Judicial Data Grid to include tribunal cases is also recommended.

Environmental compliance: A unified framework combining provisions of the Water Act (1974), Air Act (1981), and Environmental Protection Act (1986) for centralizing regulations on pollution.

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Land access: Incentivizing states to digitize land records and integrate them into a National Level Land Bank, improving land acquisition processes for businesses.

Labor reforms: Expanding the Shram Suvidha Portal for streamlined compliance under all central and state labor laws and implementing the four pending Labor Codes.

Trade facilitation: Making the Authorized Economic Operator (AEO) program easier to join and enhancing its benefits, particularly for MSMEs.

Tax litigation: Addressing tax pendency by strengthening alternative dispute resolution mechanisms like Advance Pricing Agreements and Dispute Resolution Schemes.

Metrology rules alignment: Harmonizing legal metrology rules with international standards to streamline trade processes.

Supporting industries: Allocating dedicated central budget support to incentivize states to adopt reforms and integrate systems.

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CII stressed that implementing these measures will not only improve ease of doing business but also attract greater investments and create a robust environment for economic development.

Published on: Jan 12, 2025 3:40 PM IST
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