- States must simplify compliance processes for Indian startups alongside the Centre
- Finance Minister Nirmala Sitharaman spoke at NDTV Profit GST Conclave
- FM said the central government is actively working with stakeholders to remove unnecessary compliance norms
Finance Minister Nirmala Sitharaman said on Tuesday that states would also have to undertake the process for simplifying compliance for Indian startups.
Sitharman was part of a special panel on NDTV Profit GST Conclave where she answered questions from various industry stakeholders regarding economic policy.
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"If the compliance pertains to state regulation or state law that is for the respective states to deal with. That burdens you equally, I accept that point. But even states will have to take up thing about making it easy for startups," Sitharaman said.
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The minister stated that the central government was actively involved in simplifying compliance norms for business stakeholders.
"When you say compliance, I don't know what you're referring to because, as many compliance-related issues that may pertain to me — central government, we are actively engaged with the stakeholders to say, 'tell us where you want to remove something, we are willing'," she said.
"Hasn't the last two terms of PM Modi seen so many archaic acts being removed, compliance conditions being removed? We're always on course for it," she added.
Sitharaman clarified that she was not shifting blame to state governments but was stating that compliance norms often come under state law.
She clarified that the Centre will continue to address and work on the issues highlighted to her by industry stakeholders.
"We are still ready, as many as the issues you have brought to my attention, I will work on them, that will continue," the finance minister stated.
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