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Key Points

5 points
1

Simplify licences, approvals and renewal procedures across the country.

2

Extend the reform approach to state and city governments through a dedicated task force.

3

Promote technology‑neutral, risk‑proportionate regulations for the financial technology sector.

4

Strengthen investor confidence with clear, fair and predictable policies.

5

Embed reform as a continuous cultural practice in governance.

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Summary

The government will systematically review existing laws, licences, approvals and renewal processes to make them faster.

A high‑level committee and a deregulation task force are guiding the effort, extending trust‑based governance to states and municipalities.

Recent digital infrastructure such as the unique identity program, instant payment network, digital locker and account aggregator framework illustrate how secure technology can support innovation.

The long‑term goal is to create a more competitive, transparent and resilient economy by 2047.

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New Words to Learn

9 words
red tape
unnecessary rules that slow things down
policy think tank
a group of experts that gives ideas to the government
high‑level committee
a group of senior leaders who make important decisions
trust‑based governance
running things by trusting people to follow rules without constant checks
technology‑neutral
rules that work for any kind of technology, not just one type
risk‑proportionate
rules that match the level of danger involved
financial technology
new digital ways to handle money and payments
investor confidence
trust that people have that their money will be safe and grow
transparent
open and clear so everyone can see what is happening
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