Bid to simplify laws for traders: With a step aimed to improve 'ease of trading', the Narendra Modi government at the Centre has set up a board that would frame policies benefitting the traders and their employees, according to the Ministry of Commerce and Industry.
The Board will be known as National Trader's Welfare Board. Sunil Singhi, a former member of the National Minority Commission, will be its first chairman. The notification for the set up of this Board was issued in 2019, however, due to the COVID pandemic, there was a delay in its constitution.
With the creation of the Trader's Welfare Board, the government aims to simplify laws applicable to the traders so that the issues relating to their interpretation can be finished.
How will the Board work
According to sources, the Board will interact with the traders from time to time and will suggest to the government how to reduce the burden of unnecessary compliance on the traders.
"The board will also create such arrangements in the coming days so that traders can get funds easily," sources said.
Through this Board, the government aims to improve the existing systems and create such systems in which insurance, pension, and health care benefits will be implemented more effectively for the businessmen and their employees.
It will especially communicate with the businessmen and their employees associated with the unorganized sector and will also take their issues to the government through a proper channel, they said.
Board is an inclusive approach
Sunil Singhi, who will be its first chairman, had chaired the Shramyogi Welfare Board of Gujarat for nearly five years.
Eyeing to adopt an inclusive approach, the government has given representation on this board to many trade bodies and officers of all the departments related to the traders.
It was a demand of the business organisations that the government should take steps towards simplification of their procedures and launch some benefit schemes.
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