India’s New Jan Vishwas Act 2.0: Making Business Easier
The Department for Promotion of Industry and Internal Trade (DPIIT) is working on about 100 rules and laws to bring the Jan Vishwas 2.0 bill, aiming to improve the ease of doing business in India. This initiative is part of the government’s first 100-day thrust.
Supporting ‘Make in India’
To support the ‘Make in India’ initiative, the Government of India has enacted the Jan Vishwas (Amendment of Provisions) Act, 2023. This Act decriminalizes minor offences across 42 Central Acts, eliminating 183 criminal provisions across 19 Ministries/Departments.
Key Objectives
The Act introduces civil penalties and administrative actions for minor technical and procedural lapses, reducing the fear of criminal penalties. It aims to remove outdated provisions that no longer serve the evolving technological and business environment.
This comprehensive reform saves time and costs for both the government and the judiciary, fostering a more conducive environment for businesses and entrepreneurs by reducing unnecessary legal hurdles.
Legislative Journey
The Act was passed by the Lok Sabha on July 27, 2023, and the Rajya Sabha on August 2, 2023, with presidential assent on August 11, 2023. It aims to promote trust in businesses and citizens, streamline legal processes, and ease the burden on the judiciary.
Global Standards
The decriminalisation effort ensures that penalties are proportionate to the severity of offences while maintaining stringent punishments for serious violations. This aligns India’s regulatory framework with global business standards, promoting investor confidence and facilitating smoother business operations.
Doubts Revealed
Jan Vishwas Act 2.0 -: This is a new law in India aimed at making it easier for businesses to operate by reducing the number of criminal penalties for minor mistakes.
DPIIT -: The Department for Promotion of Industry and Internal Trade is a part of the Indian government that helps businesses grow and trade more easily.
ease of doing business -: This means making it simpler and less complicated for people to start and run businesses.
decriminalizes -: This means that certain actions that were considered crimes before are no longer treated as crimes.
Central Acts -: These are laws made by the central government of India that apply to the whole country.
civil penalties -: These are punishments like fines or warnings instead of jail time for breaking certain rules.
Lok Sabha -: This is one of the two houses of India’s Parliament where elected representatives make laws.
Rajya Sabha -: This is the other house of India’s Parliament where members review and suggest changes to laws.
regulatory framework -: This is a set of rules and laws that businesses must follow to operate legally.
investor confidence -: This means that people who put money into businesses feel safe and positive about their investments.
