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Curbing regulatory burdens a priority, says Sitharaman
Through the budget announcements, we are taking various steps towards making India a seamless export-friendly economy, says minister
The government “remains steadfast in reducing regulatory burdens and enhancing trust-based governance” to improve the ease of doing business, Union finance minister Nirmala Sitharaman on Tuesday said adding that the pathway for reforms is complemented by its “unwavering focus” on capital expenditure as a driver of economic growth.
Speaking virtually at post-budget webinars, the FM said, “Through the budget announcements, we are taking various steps towards making India a seamless export-friendly economy… where businesses are free to focus on innovation and expansion and not paperwork and penalties. Decriminalisation of business-related laws reduces the legal risks, allowing industries to operate with greater confidence.”
“A robust manufacturing sector free from unnecessary regulatory bottlenecks, will further attract both domestic and foreign investments, driving economic growth, positioning India as a trusted global player,” she said. The government has already removed over 42,000 compliances, and more than 3,700 legal provisions have been decriminalised since 2014.
The Jan Vishwas Act, 2023 (the first version) decriminalised over 180 legal provisions. “Our government will now bring up the Jan Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. It will further simplify processes for businesses… Hon’ble PM, actually referred to these steps which have been taken in his inaugural statement this morning,” she said referring to the PM’s address in the morning.
“The pathway for reforms is complemented by the government’s unwavering focus on capital expenditure as a driver of economic growth,” Sitharaman said. For the year 2025-26, total effective capex is proposed at ₹15.48 lakh crore, which is 4.3% of the GDP, with ₹11.21 lakh crore allocated as core capital expenditure by the Centre, which is 3.1% of the GDP. This unprecedented investment in infrastructure development is already creating jobs, strengthening industries and laying the foundation for private sector participation in India’s growth story, she said.
The second series of the webinars covered three themes – micro, small and medium enterprises (MSMEs) as engine of growth; manufacturing, exports and nuclear energy missions; and regulatory, investment and ease of doing business (EoDB) reforms. Webinar brought together stakeholders from ministries such as finance, industry and corporate affairs besides regulators, state governments, public sector banks, insurance companies, and industry associations. The purpose was to ensure smooth implementation of budget provisions to spur growth.
Explaining the purpose of post-budget webinar series, she said that it promotes direct engagement between policymakers and stakeholders across the various sectors. “These interactive sessions enhance clarity of budgetary provisions and encourage collaborative problem-solving as per the mantra of Hon’ble Prime Minister – sabka saath, sabka vikas, sabka vishwas and sabka prayas,” she said.
“Hon’ble Prime Minister emphasised during the inaugural session earlier today – ‘We cannot be spectators, we have to play our role’ -- This aligns with our commitment to encourage global economic partnerships, leveraging technology to strengthen traditional sectors and significantly enhance the export potential of India,” she said.
