The start of February has begun with the most awaited and most important announcement of the whole year that every citizen of the country waits for. i.e. the Union Budget.
Today, the Finance Minister of India, Smt Nirmala Sitharaman announced the Union Budget of 2025 and all that it comprises. Along with the Budget 2025, she also introduced the Jan Vishwas Bill 2.0. The bill aims to increase the ease of doing business in India which is expected to attract as many foreign investors as possible.
Read the news article to know what exactly the bill is about and what sort of impact it will have on the people and the nation as a whole.
Jan Vishwas Bill 2.0
While debriefing about the specifics of the Union Budget of 2025, Smt Nirmala Sitharaman announced the Jan Vishwas Bill 2.0. The bill is being introduced to decriminalise over 100 outdated and old legal provisions to increase the ease of doing business in India.
Jan Vishwas Bill 2.0 is being introduced after the success of the Jan Vishwas (Amendment of Provisions) Act of 2023 which decriminalised over 180 legal provisions in various sections like copyright, trademark, patent, and geographical indications of the goods act. It replaced penalties for minor offences with monetary fines.
Advantages Of The Jan Vishwas Bill 2.0
The Jan Vishwas Bill 2.0 is expected to have several advantages that would attract foreign investors to set up businesses in India. Some of its key expected advantages are mentioned below in brief for one’s better understanding and reference:
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The bill would decriminalise minor non-compliance issues to increase the ease of doing business in India.
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Jan Vishwas Bill 2.0 would cover various sectors and industries like agriculture, labour, and commerce with changes in laws like the Drugs and Cosmetics Act of 1940 and the Food Safety and Standards Act of 2006.
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The bill would also work on the handling of cases by ensuring that certain offences go to designated authorities rather than to courts directly.
Conclusion
The Jan Vishwas Bill 2.0 is expected to decriminalise old, unnecessary, and outdated legal provisions, and shift the workload from courts to low-level authorities first, all to attract foreign investors to set up their businesses in the grounds of India or invest in already established Indian businesses.
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