{"id":224771,"date":"2023-02-02T20:42:51","date_gmt":"2023-02-02T15:12:51","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=224771"},"modified":"2023-02-20T14:44:27","modified_gmt":"2023-02-20T09:14:27","slug":"tiresome-rules-out-trust-based-model-in","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/tiresome-rules-out-trust-based-model-in\/","title":{"rendered":"Tiresome rules out, trust-based model in"},"content":{"rendered":"\n<p><strong>Source: <\/strong>This post is created based on the article<strong> \u201cTiresome rules out, trust-based model in\u201d, <\/strong>published in Live mint on 2<sup>nd<\/sup> Feb 2023.<\/p>\n<p><strong>Syllabus Topic:<\/strong> GS Paper 3, changes in industrial policy and their effects on industrial growth<\/p>\n<p><strong>News<\/strong>: In her budget speech, Finance Minister (FM) Nirmala Sitharaman emphasized on trust-based governance.<\/p>\n<p>To enhance ease of doing business for companies, FM proposed to reduce 39,000 compliances and decriminalize 3,400 legal provisions.<\/p>\n<p>For achieving the above goals, government introduced Jan Vishwas Bill to amend 42 Central Acts.<\/p>\n<h2><strong>Other measures for ease of doing business in India<\/strong><\/h2>\n<p>Extension of the scope of <strong>Digi Locker<\/strong> to include business entities.<\/p>\n<p><strong>Permanent Account Number (PAN) <\/strong>will be made a common identifier for all digital systems of specified government agencies.<\/p>\n<p><strong>A unified filing process <\/strong>will be implemented to eliminate the requirement of separate submission of same information to different government agencies.<\/p>\n<p>For MSMEs, the government introduced relief measures under <a href=\"https:\/\/forumias.com\/blog\/7-pm-vivad-se-vishwas-may-help-clear-the-backlog-of-pending-tax-cases-29th-february-2020\/\">Vivad Se Vishwas<\/a>.<\/p>\n<p><strong>A voluntary settlement scheme <\/strong>will be introduced to settle the contractual disputes of the government and government undertakings, under court\u2019s proceedings.<\/p>\n<p>The government has proposed<strong> to delegate powers under the SEZ Act <\/strong>to International Financial Services Centres Authority. It will avoid dual regulation and set up a single window IT system for registration and approval from IFSCA, SEZ authorities, GSTN, RBI, SEBI and IRDAI.<\/p>\n<h2><strong>Some concerns raised by industrialists<\/strong><\/h2>\n<p>Budget had widened the tax authorities\u2019 power to withhold any refunds to a taxpayer. It could result in increasing load of over-burdened constitutional courts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: This post is created based on the article \u201cTiresome rules out, trust-based model in\u201d, published in Live mint on 2nd Feb 2023. Syllabus Topic: GS Paper 3, changes in industrial policy and their effects on industrial growth News: In her budget speech, Finance Minister (FM) Nirmala Sitharaman emphasized on trust-based governance. To enhance ease&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/tiresome-rules-out-trust-based-model-in\/\">Continue reading <span class=\"screen-reader-text\">Tiresome rules out, trust-based model in<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10501],"class_list":["post-224771","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700194926},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/224771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=224771"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/224771\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=224771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=224771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=224771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}