Sitharaman Champions Transparent Governance for Corporate Affairs

Finance Minister Nirmala Sitharaman emphasizes the need for simplified and user-friendly governance in the corporate sector. During a review meeting, she advocated for legislative reforms and transparency to facilitate India’s progress towards Viksit Bharat 2047, highlighting the importance of adapting systems to the country's evolving needs.

Finance and Corporate Affairs Minister Nirmala Sitharaman has underscored the importance of streamlined, user-friendly governance as the nation advances towards Viksit Bharat 2047. In a detailed review session with regional directorates and registrars of companies, she stressed the need for simplifying processes and enhancing transparency.

Legislative reforms, such as the Insolvency and Bankruptcy Code (IBC), showcase India's adaptability to contemporary demands. Sitharaman proposed implementing a live dashboard to boost transparency within the corporate affairs ministry and encouraged innovative methods for communicating legal requirements to stakeholders.

Discussions covered key areas like company incorporations, e-governance, and adjudication processes. Emphasizing the theme of 'maximum governance, minimum government', Minister of State Harsh Malhotra highlighted the ministry's mission to adapt and facilitate the business landscape with minimal bureaucratic interference.

(With inputs from agencies.)