Govt will set up deregulation commission to reduce state's role: PM Modi
The government is going to constitute a Regulation Commission, the PM said.
The government is going to constitute a Regulation Commission, the PM said.
The government is going to constitute a Regulation Commission, the PM said.
New Delhi: Prime Minister Narendra Modi said the government will constitute a deregulation commission to further reduce the state's role in all spheres of governance.
Speaking at a global concave, Modi said the government had ended hundreds of compliances, and now, through Jan Vishwas 2.0, more archaic compliances are being reduced to promote ease of doing business. "It is my conviction that there should be less interference of the government in the society. For this, the government is also going to constitute a Regulation Commission," he said.
The NDA government, through its policies, have been able to replace 'fear of business' with 'ease of doing Business', he said. Acknowledging that the role of the private sector is very important in the journey for Viksit Bharat, he said the government has opened many new sectors, including nuclear energy, space, commercial mining and power distribution, for investment and bring in efficiency.
Talking about various reforms, the Prime Minister said it had been made in property rights by launching Svamitva Yojana. "Worldwide, many people do not have legal documentation for their properties. Property rights help reduce poverty, but the previous government never paid attention to this issue. This approach does not help build a nation. That's why we launched the 'Svamitva Yojana'. Thanks to 'Svamitva', properties worth Rs 100 lakh crore have been unlocked in rural areas," he said.
Property worth Rs 100 lakh crore was already there in the villages, but it was not able to contribute to the country's economic development, he said, adding with the property rights, villagers are now able to get bank loans.
"Today we hear that because of these cards, people are getting benefited...people in villages are getting credit access," he said. Sharing further details of the scheme, he said 3 lakh villages were surveyed with the help of a drone, and after the survey, 2.25 lakh persons were given property cards.
To further support the middle class, our government has raised the threshold for zero Income Tax liability from Rs 7 lakh to Rs 12 lakh, strengthening the entire middle class and boosting economic activity," he said.