The Ministry of Corporate Affairs has proposed the establishment of a single portal, where various regulators and regulatory ministries can be put together, in order to promote e-Governance further. This will help to link businesses through a common website.
The proposed single regulatory portal for businesses plans to link various regulatory ministries and individual regulators internally so that business to government and regulations window is created for businesses.
This new portal is named as NexGen MCA21. The portal will ensure effective regulation and enforcement of the company laws and regulations at all stages which will include inspections, investigations and prosecutions.
It was also pointed out that artificial intelligence should be used for alerting the regulators on corporate frauds.
IT Secretary Jainder Singh said the project will take a multi-pronged strategy wich will include improving the regulatory framework, policy formulation processes and better interface between the government and business.
The Secretary further advocated about the pruning of procedures and emphasised upon the immediate and efficient delivery of services thus ensuring India to conduct easy business.