Finance Minister praised MCA for modernizing company laws, promoting insolvency reforms, and enhancing corporate governance and public trust nationwide
NEW DELHI
Finance Minister Nirmala Sitharaman said India modernise systems and simplify processes to reach developed nation status by 2047. She spoke during a review meeting of corporate offices and regional directorates held in the national capital recently.
Sitharaman said governance today should be easy transparent and focused on helping people and businesses without unnecessary delays. She asked Ministry of Corporate Affairs to become more forward looking and deliver services to stakeholders on time. Union Minister of State Harsh Malhotra and senior officers of the ministry also attended the important discussion meeting.
The Finance Minister praised MCA for updating company laws and rules to match changing economic and business conditions. She mentioned the Insolvency and Bankruptcy Code as a reform helping companies resolve financial stress in cleaner ways. Sitharaman said better corporate governance improved public trust by sharing clear and transparent financial information with citizens nationwide.
She also highlighted MCA role in guiding companies to follow proper rules and maintain strong internal governance structures.
Malhotra reminded officials about prime minister vision of maximum governance and minimum government for faster public service delivery. He said regular talks with stakeholders will help solve problems quickly and improve overall trust in government processes. The MCA Secretary shared that enforcement manuals are now standardised and further rule simplification is already under progress.
Sitharaman also directed the ministry to create a live dashboard for improving transparency and monitoring daily performance levels. She told officials to explain rules clearly to businesses and citizens using simple language and easy communication methods.
The minister urged frequent internal discussions to find new ideas for improving ease of doing business across India.