Why in news
In a bid to ease investment inflows, the government is pursuing a second iteration of the Jan Vishwas law to reduce businesses’ compliance burden and decriminalise laws, but is grappling with a lack of industry inputs about the pain points that need addressing, Commerce and Industry Minister Piyush Goyal pleaded with businesses to come forward and share ideas.
Jan Vishwas Act, 2023
The Jan Vishwas (Amendment of Provisions) Act, 2023 has marked a significant step towards creating a more business-friendly environment.
It will lay the foundation for improving the Ease of Doing Business in India.
It seeks to reduce compliance and remove the fear of imprisonment for minor offences, to give an impetus to businesses and improve ease of doing business and living, thus bolstering ‘trust-based governance’
Features
Decriminalization of Offences
Removal of offences
Periodic Revision of Penalties
Adjudicating Officers
Appellate Mechanisms
Benefits
Economic Growth
Rationalises Criminal Provisions
Maintains Proportionality
Reduces Pressure on the Justice System
Improve the Health of MSMEs
Trust-Based Governance
COMMENTS