ICAI | DPIIT seeks public inputs for measuring cost of regulation

Last updated: 23 May 2023

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The Institute of Chartered Accountants of India (ICAI), in collaboration with the Department For Promotion of Industry and Internal Trade (DPIIT), is inviting businesses to provide feedback on a draft framework for measuring the Cost of Regulation (CoR). This initiative is part of the government's 'Ease of Doing Business' drive, aiming to understand and reduce the financial burden of regulations on companies. ICAI has developed a questionnaire to gather insights from corporates across various services and states.

Committee for Development of International Trade, Services & WTO
The Institute of Chartered Accountants of India

ANNOUNCEMENT

SEEKING INPUTS FOR MEASURING COST OF REGULATION - AS REQUESTED BY DPIIT

ICAI and DPIIT Seek Input on Cost of Regulation Framework

This is with reference to the communication received from Department For Promotion of Industry and Internal Trade (DPIIT) which is the Nodal Department for the Ease of Doing Business initiative of Government of India. Cost of Regulation (CoR) is a critical component in the overall cost for the businesses and an important parameter in mapping ease of doing business.

In this regard, a draft framework has been developed by DPIIT considering the ground challenges mentioned during a series of consultations with States/UTs and industry. Stakeholder consultation is now proposed with industry representatives to discuss Cost of Regulations (CoR) Framework and receive their input and suggestions on the same. Detailed presentation giving the framework can be viewed by clicking here

Being Chartered Accountant the total business solution provider, DPIIT has approached ICAI for getting insights of cost of Regulation by corporates and hence a questionnaire has been developed for each service in each State. Multiple entries are accepted. You are requested to kindly fill the questionnaire in the form of google form by clicking here latest by 28th May, 2023.

FAQ :

The purpose is to gather feedback from businesses on a draft framework developed by DPIIT to measure the Cost of Regulation (CoR), as part of the 'Ease of Doing Business' initiative.

The inputs are being requested by the Department For Promotion of Industry and Internal Trade (DPIIT), with the Institute of Chartered Accountants of India (ICAI) facilitating the process.

Cost of Regulation (CoR) is a critical component of overall business costs and an important factor in assessing the ease of doing business.

Businesses can provide their input by filling out a questionnaire developed by ICAI, available via a Google Form.

The deadline for submitting feedback is 28th May, 2023.

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