1 week ago

Centre Plans Longer Licences to Reduce Business Compliance Burden

The government wants some business licences to last much longer.

Instead of renewing them every year or after a short period, companies may receive licences valid for 10 to 15 years.

Businesses would still pay the required fees each year.

However, they would not have to submit the same renewal paperwork repeatedly.

The plan could cover environmental, pharmaceutical, explosives and standards-related permits.

Hospitality businesses may benefit because they often need many different approvals.

The government does not plan to replace all permits with one single licence.

It hopes the changes will make it easier for businesses to operate in India.

Key facts

Proposed validity: Several permits could be valid for 10 to 15 years.
Annual fees: Companies would continue paying applicable fees annually.
Renewal applications: Businesses would not repeatedly submit renewal applications during the longer validity period.
Regulatory coverage: The exercise includes environment, pharmaceuticals, explosives and Bureau of Indian Standards certifications.
Oversight: A high-level committee on non-financial regulatory reforms is chaired by Rajiv Gauba.
Hospitality approvals: Food and beverage establishments may need nearly 30 licences over a project's lifecycle, while hospitality projects may require around 60 permissions.
Single licence plan: Officials said individual approvals will remain rather than being replaced by one unified licence.

freepressjournal.in · 1 week ago