NEW DELHI: Stakeholders have informed a parliamentary committee that despite multi-phased central deregulation efforts, the absolute volume of business compliances remains a major friction point for domestic enterprises, according to the panel’s report.According to the department-related parliamentary standing committee on commerce’s report on ‘Doing Business in India: The Way Forward’, stakeholders apprised the panel that while pan-India rationalisation drives have successfully neutralised over 40,000 regulatory obligations, the survival of overlapping rules continues to inflate fixed operational costs and suppress long-term capital deployment.Citing an example, it said a typical firm operating in India currently navigates an archaic and disconnected web of regulations consisting of 1,536 distinct Acts, which collectively impose 69,233 separate compliance requirements and mandate 6,618 independent statutory filings across the three tiers of govt.The committee has noted that overlapping compliance requirements lead to duplication of effort.
