India's Ease of Doing Business Boost: Key Insolvency Bills Introduced, Jan Vishwas Bill Proposed
The Indian government has introduced and progressed several bills aimed at streamlining insolvency processes and promoting ease of doing business. The Insolvency and Bankruptcy Code (Amendment) Bill, also known as the IBC (Amendment) Bill, and the Jan Vishwas (Amendment Of Provisions) Bill, 2025, have been introduced in Parliament, with key appointments made to oversee their progress.
The IBC (Amendment) Bill, proposed by Commerce and Industry Minister Piyush Goyal, seeks to enhance the Insolvency and Bankruptcy Code, 2016. It introduces a Creditor-Initiated Insolvency Resolution Process (CIIRP) and aims to improve efficiency at both resolution and liquidation stages. Meanwhile, the Jan Vishwas Act, 2025, introduced during the Monsoon Session, aims to simplify regulations, reduce compliance burdens, and promote trust-based governance.
The Jan Vishwas (Amendment of Provisions) Bill, 2025, proposes significant changes. It suggests decriminalising 288 provisions and amending 67 provisions to foster Ease of Doing Business. Additionally, it proposes 67 amendments under the New Delhi Municipal Council Act, 1994 (NDMC Act) and Motor Vehicles Act, 1988 to facilitate Ease of Living. The bill expands its reform agenda to cover 16 Central Acts administered by 10 Ministries/Departments, with a total of 355 provisions proposed to be amended.
Key appointments have been made to oversee these bills. Lok Sabha Speaker Om Birla has constituted a Select Committee for the Jan Vishwas (Amendment Of Provisions) Bill, 2025, with BJP MP Tejasvi Surya appointed as its chairperson. Similarly, Bharatiya Janata Party MP Baijayant Panda has been appointed as the Chairperson of the Select Committee of Lok Sabha on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025.
The progress of these bills signals the government's commitment to improving the ease of doing business and living in India. The proposed changes to the Insolvency and Bankruptcy Code and the decriminalisation and amendment of various provisions aim to create a more business-friendly and efficient regulatory environment.
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