Business Reforms Action Plan (BRAP) 2024

Syllabus: GS3/Economy

Context

• The Union Government is set to unveil the Business Reforms Action Plan (BRAP) 2024.

Business Reforms Action Plan (BRAP)

• It was launched by the Ministry of Commerce and Industry in 2014-2015, aims to improve the ease of doing business and enhance the overall business environment in the country.
• Key Objectives:
  • Simplification of Regulatory Processes: Streamlining business regulations to reduce compliance burdens.
  • Digitization: Encouraging digital platforms for business registration, licensing, and other regulatory requirements.
  • Stakeholder Engagement: Involving businesses in the reform process to ensure their needs are met.
  • Benchmarking: Comparing India’s business environment with other countries to identify areas for improvement.
• Major Areas of Focus:
  • Starting a Business: Reducing the time and cost involved in starting a business.
  • Construction Permits: Streamlining processes for obtaining construction permits.
  • Labor Regulation: Simplifying labor laws and improving compliance mechanisms.
  • Trade and Customs: Enhancing the efficiency of trade processes and customs clearance.
• Implementation:The BRAP consists of a series of annual action plans, where states are evaluated on their reform efforts.
  • States that perform well are recognized and rewarded, creating a competitive environment for reforms.

BRAP 2024

• It is set to establish a seamless business regulatory framework across the country, enhancing the ease of doing business.
• Led by the Department for Promotion of Industry and Internal Trade (DPIIT), BRAP 2024 introduces next-generation reforms that address the needs of both businesses and citizens. 
• BRAP 2024 continues to streamline processes, reduce compliance burdens, and implement digital solutions to make India a preferred global investment hub.
  • BRAP has expanded beyond its initial scope, covering critical sectors such as Labour, Environment, Taxes, Land Administration, Utility Permits, Inspection and Construction.

Department for Promotion of Industry and Internal Trade

• It was established in 1995, and in the year 2000 the Department of Industrial Development was merged with it. 
• It is working under the Ministry of Commerce and Industry.
• This department is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.

Source: PIB