In furtherance of  Finance Minister’s Budget speech, an Expert Committee has been constituted to suggest simplified compliance.  The Expert Committee has been constituted with the following composition and terms of reference for examining the possibility of replacing multiple prior permissions with pre-existing regulatory mechanism and preparing a draft legislation for this purpose:

A.     Composition

1.	Mr. Ajay Shankar, Former Secretary, Department of Industrial Policy and Promotion	Chairman
2.	Mr. Manoj Kohli, Vice-president, Airtel	Member
3.	Mr. Jaijit Bhattacharya, M/s KPMG	Member
4.	Mr. Siddhartha Sibal, M/s Accenture	Member
5.	Mr. Chandrajeet Banerjee, Secretary General, Confederation of Indian Industries	Member
6.	Mr. Manoj Kumar Singh, Joint Secretary, Ministry of Environment and Forests	Member
7.	Mr. Alok Kumar, Joint Secretary, Ministry of Labour and Employment	Member
8.	Mr. Dhruba Purkayastha, IFC, the World Bank Group	Member
9.	Mr. Aurodeep Nandi, Senior Economic Advisor, British High Commission	Member
10.	Mr. Abraham Zachariah, Central Projects Organization, ITC, Bangalore	Member
11.	Mr. Shailendra Singh, Joint Secretary, Department of Industrial Policy and Promotion	Member/ Secretary

B.     Terms of Reference: 

i)   Study the requirement of various prior permissions with an exhaustive inventory of such permissions;

ii)   Examine the possibility of replacing these prior permissions with a pre-existing (proposed) regulatory mechanism;

iii)  Identify safeguards to be put in place while replacing the system of prior permission and integrating these safeguards in the proposed regulatory mechanism;

iv)  Recommend a framework of the proposed regulatory mechanism; and

v)  Draft the proposed legislation.

 2.         The Expert Committee shall submit its report within 30 days.

Replacing multiple prior permissions with a regulatory mechanism prompts an expert committee to recommend framework and draft legislation. An Expert Committee is constituted, comprising government, industry and advisory members, to inventory existing prior permissions, assess replacing them with a proposed regulatory mechanism, identify and integrate necessary safeguards, recommend the regulatory framework, and prepare a draft statute; the Committee must submit its report within a short, specified time frame.