India's retail inflation, as measured by the consumer price index (CPI), eased to 5.72 per cent in December on an annual basis as against 5.88 per cent in November, 2022.
Jan Vishwas Bill: Decriminalizing minor offences to promote ease of doing business
Commerce and Industry Minister Piyush Goyal introduced the Jan Vishwas (Amendment of Provisions) Bill, 2022, to decriminalize minor offences to promote ease of business. The fear of imprisonment for minor offences is a major factor hampering the growth of the business ecosystem and individual confidence.
The Bill proposes to amend 183 provisions across 42 Acts administered by 19 ministries. Besides the decriminalization of minor offences, the bill envisages the rationalization of monetary penalties, depending on the gravity of the offence, bolstering trust-based governance. It also proposes an increase of 10% of the minimum amount of fine and penalty levied, after the expiry of every three years. Settlement of a large number of issues, by compounding method, adjudication and administrative mechanism, without involving courts, will enable persons to remedy minor contraventions and defaults, sometimes committed unknowingly by them, and save time, energy and resources.
“There are several offenses in our country where small mistakes lead to people facing legal action and facing the brunt of the courts. Our government is of the belief that we should trust people; a common businessperson wants an honest establishment for honestly earning their livelihoods,” said Goyal while introducing the Bill.
As measures to promote ease of doing business, about 1,500 old laws have been repealed, 39,000 compliances have been simplified and about 3,500 norms were introduced to decriminalize offences.
The bill was later referred to a 31-member joint committee of Parliament for scrutiny. The committee will be required to submit its report in the second part of the Budget session, 2023.
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