Report of the committee for reforming the regulatory environment for doing business in India
A government-appointed committee has termed retrospective taxation a "significant disincentive" for entities wanting to do business in India and has suggested a string of legal, administrative and regulatory reforms to make the country a better and easier place to do business. The commitee has also suggested simpler drafting of rules to avoid room for interpretations and faster resolution of disputes through arbitration mechanism and consent settlements. In its 77-page report for reforming the regulatory environment for doing business in India, the committee headed by former Sebi chairman M Damodaran has recommended incentives for states undertaking key reforms. It has also asked the Central and state governments to review all the regulations affecting ease of doing business to reflect the modern day trade and commerce.