What is the significance of setting up a deregulation commission in reducing the State's role in governance
Prime Minister Modi announced the government's plan to establish a deregulation commission to further reduce the State's role in governance.
- Streamlining regulations: The deregulation commission can review and eliminate unnecessary regulations, making the governance process more efficient.
- Promoting economic growth: By reducing red tape and bureaucratic hurdles, businesses can operate more smoothly, leading to increased investment and economic growth.
- Encouraging innovation: Removing unnecessary regulations can foster innovation and entrepreneurship, creating a more dynamic business environment.
- Improving ease of doing business: Simplifying regulations can make it easier for both domestic and foreign companies to operate in India, boosting the country's position in global rankings.
- Enhancing competitiveness: A leaner regulatory framework can enhance India's competitiveness in the global market and attract more investment.
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2 months ago