New Delhi, Dec. 5 -- A high-level NITI Aayog panel has proposed reforms to simplify India's regulatory architecture, including scrapping unnecessary licences, permits and NOCs, replacing inspector-led checks with third-party inspections, and ensuring stable, predictable policies.

The committee, chaired by NITI Aayog member Rajiv Gauba, submitted its report on Non-Financial Regulatory Reform, outlining the Jan Vishwas Siddhant, a trust-based regulatory approach aimed at easing compliance and improving the business environment.

Key Recommendations

The panel recommended limiting licensing only to activities involving national security, public safety, health or major public interest, while all other activities should function without prior...