NEW DELHI, Mar 19: Government-appointed Damodaran panel, looking into ways to improve the country’s overall business climate, is expected to submit its report by the end of this month.
Corporate Affairs Minister Sachin Pilot today said the report of the committee, headed by former Sebi chief M Damodaran, would be submitted to the ministry by March end.
“I have asked for concise, tangible and actionable suggestions (from the panel),” to improve business environment in the country, the Minister said.
The committee was set up by the ministry in August amid concerns among industry and investors about perception of policy paralysis and lack of required economic reforms.
Well known businessmen and industrialists such as Anand Mahindra, Kumar Mangalam Birla and Y C Deveshwar, besides senior government officials are part of the panel.
Speaking at the annual general meeting of International Chamber of Commerce here, Pilot assured that he would make all efforts towards improving the business climate.
According to him, it should be ensured that regulations and regulators should not come in the way of investments coming into the country.
“We should have limited regulations and more compliance,” he noted.
Pilot also said the ministry is “diligently” working on a competition policy, as part of efforts to have have improved conditions for doing business in the country.
On the possible tax benefits for Corporate Social Responsibility (CSR) activities carried out by companies, Pilot said his ministry is in discussions with the Finance Ministry on the issue.
In the new Companies Bill, which is awaiting Rajya Sabha approval, companies have to spend 2 per cent of their average net profit of last three years.
Pilot said the bill is likely to be taken up by the Rajya Sabha after Parliament reconvenes in April. (PTI)
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