Report of the Committee for Reforming the Regulatory Environment ...

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different aspects of the same subject, can be collatedwith all previous regulations on the subject. Thisexercise would address the issue of multiplicity ofregulations as well as contemporary irrelevance ofsome regulations.4.11 It has been brought out earlier in this report thatthe explosive growth in the number of regulations isone of the major constraints to doing business in India.Rarely, if ever, do institutionsand regulatory bodies taskedwith the responsibility andendowed with the power to writeregulations, revisit anyregulations of the past to assesstheir continuing relevance. Theexperiment with the setting up ofa Regulation Review Authority bythe Reserve Bank of India inIndia and authorities elsewhereThe Committee is ofthe firm opinion thatevery organisationwhich writesregulations or otherforms of supportinglegislation shouldhave a RegulationReview Authority tocontinuously examinethe stock of existingregulations and toweed out those thatdo not have anycontinuing use.have yielded considerable benefits, both in terms of48
weeding out regulations that are past their shelf-lifeand in refining regulations that continue to be relevant.The Committee is of the firm opinion that everyorganisation which writes regulations or other forms ofsupporting legislation should have a Regulation ReviewAuthority to continuously examine the stock of existingregulations and to weed out those that do not have anycontinuing use. There have oftenbeen opinions expressed thatsuch an Authority should beestablished outside of theinstitution that writesregulations in order to ensureobjectivity. The Committee is,The RegulationReview Authorityshould be within theorganisation thatwrites regulations inorder to have a bettersense ofunderstanding thecontext.however, persuaded that the Regulation ReviewAuthority should be within each organisation that writesregulations in order to have a better sense ofunderstanding the context in which the regulationswere written and to contextually assess their continuingrelevance. Locating such a body outside regulatoryorganisations could result in a cavalier approach arising49
Page 5: Finally, I wish to place on record
Page 8 and 9: doing business, and cause appropria
Page 10 and 11: 5) Autonomy of regulatory authoriti
Page 12 and 13: 11) System of advance ruling: It ha
Page 14 and 15: Enabling MSMEs15) Setting up a over
Page 16 and 17: 19) Incentivising regulatory reform
Page 18 and 19: and keen to attract both domestic a
Page 20 and 21: unravel the regulatory maze and to
Page 22 and 23: those recommendations in the contex
Page 24 and 25: modern day trade and commerce. The
Page 26 and 27: 2.3 It is imperative that persons i
Page 28 and 29: increasing evidence that the lower
Page 30 and 31: into the need for such an organisat
Page 32 and 33: the administrative Ministry because
Page 34 and 35: appointment is finalised. To appoin
Page 36 and 37: The present practice invariably is
Page 38 and 39: place in the revised regulations. I
Page 40 and 41: hesitant to drop the investigation
Page 42 and 43: e approached by persons who are not
Page 44 and 45: unsuspecting public often leads to
Page 46 and 47: 4.9 Having regard to India's federa
Page 50 and 51: from a lack of ownership in regard
Page 52 and 53: 4.14 Sunset provisions have been us
Page 54 and 55: new regulation. It is only when the
Page 56 and 57: proposal. One of the alternatives c
Page 58 and 59: would necessitate capacity-building
Page 60 and 61: Chapter FiveEnabling MSMEs5.1 MSMEs
Page 62 and 63: detailed information regarding the
Page 64 and 65: Chapter SixAddressing State Level I
Page 66 and 67: information on the procedural and s
Page 68 and 69: wheel in regard to practices and pr
Page 70 and 71: Chapter SevenAction on the World Ba
Page 72 and 73: usiness. This is a parameter in res
Page 74 and 75: within the applicable collateral an
Page 76 and 77: has also been noticed that there ar
Page 78 and 79: No.11/08/2012-CL.VGovernment of Ind
Page 80 and 81: (b) Hold wide consultations with al
Page 86 and 87: Independent Panel Review of the Doi
Page 88 and 89: • The report relies on a narrow i
Page 90 and 91: ecause they involve aggregating acr
Page 92 and 93: cardinal scores as being more infor
Page 94: 10. Improve the report’s communic

Report of the Committee for Reforming the Regulatory Environment ...

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