Govt to set up deregulation commission to further reduce state's role: PM Modi
Prime Minister Modi emphasised that his administration has shifted from a culture of ‘Fear of Business’ to ‘Ease of Doing Busines.
Prime Minister Narendra Modi said on Saturday that the government would constitute a deregulation commission to further reduce the role of the state in all spheres of governance.
Speaking at ET Now Global Business Summit, Modi said the government has 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 Deregulation 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 by 2047, he said the government has opened many new sectors including nuclear energy, space, commercial mining and power distribution systems for them to invest and bring in efficiency.
He exuded confidence that India would be an active participant in the Fourth Industrial Revolution and take the lead role in that.
Talking about various reforms, the Prime Minister said it has 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.
Emphasizing that the major countries and leading platforms around the world have a strong confidence in India, the Prime Minister said this sentiment was evident during the discussions at the AI Action Summit in France.
"Today, India is at the forefront of discussions about the world's future and is, in many respects, taking a leading role," he said.