Why in News?
The Department for Promotion of Industry and Internal Trade (DPIIT) has launched a portal called “Regulatory Compliance Portal”.
About Regulatory Compliance Portal:
- Objective: Portal is aimed at minimizing the regulatory burden on businesses and citizens. For that, it will act as a bridge between citizens, industries and the Government. It will also act as a first-of-its-kind central online repository of all Central and State-level compliances.
- Key Features:
- All Central Ministries and States/UTs will rationalize and simplify their regulatory processes and remove burdensome compliances
- All such changes would be captured and updated on the Regulatory Compliance Portal.
- Industry stakeholders would also be able to submit compliances and proposed recommendations. This will be assessed by concerned Government authority and suitable action would be undertaken to minimize the regulatory compliance burden.
- Nodal Department: DPIIT will act as the nodal department for coordinating the exercise of minimizing regulatory compliance burden for citizens and businesses.