New Delhi, March 4 -- The Union government is likely to unveil a national deregulation commission by May this year to recommend a set of next-generation economic reforms aimed at easing rules, speeding up approvals, and dismantling barriers faced by businesses, especially smaller enterprises, an official with knowledge of the matter said.

The proposed commission, being conceptualised by a task force led by Union cabinet secretary TVS Somanathan, will suggest policies to roll out an "ease of doing business 2.0" plan to crank up growth amid challenging global conditions, an official said on condition of anonymity.

Aside from Somanathan, the task force comprises key officials from the Niti Aayog and the Prime Minister's Office, HT has lear...