Tomorrow i.e. 31st October 2013 is the last date for sending comments by the general public on the Report of the Committee for Reforming the Regulatory Environment for Doing Business in India (generally referred to as the Report of the Damodaran Committee) to the Ministry of Corporate Affairs. The copy of the Report is available on the website of the Ministry. The comments can be sent to Smt. Kamna Sharma (Assistant Director, MCA) on Email:[email protected]

Damodaran Committee was set up in August 2012 by the Ministry of Corporate Affairs under the Chairmanship of Shri M. Damodaran for Reforming the Regulatory Environment for Doing Business in India. The proximate cause of the establishment of the Committee was the World Bank’s Doing Business Report which ranked India amongst the countries ranked at the bottom of various sub-indices. The Committee submitted its Report last month. The Committee has made a number of recommendations that can be classified as: legal reforms, regulatory architecture, boosting efficacy of regulatory process, enabling MSME’s, and addressing State level issues.

The recommendations of the Committee and the time frame for implementation are under consideration of the Ministry of Corporate Affairs.

Public consultation on regulatory reform closes; stakeholders urged to submit comments on committee reform recommendations. A public consultation deadline requires submission of comments to the Ministry of Corporate Affairs on the Damodaran Committee Report; stakeholders must send comments to Assistant Director Smt. Kamna Sharma at the Ministry's specified email and the Report is available on the Ministry website. The Committee, formed in response to World Bank Doing Business rankings, submitted recommendations classified as legal reforms, regulatory architecture, regulatory process efficacy, MSME enablement, and State level issues, and the Ministry is considering these recommendations and their implementation time frame.