(source : ANI) ( Photo Credit : ani)
India’s Lok Sabha Speaker Om Birla has set up a key Select Committee to review the Jan Vishwas (Amendment of Provisions) Bill, 2025. BJP MP Tejasvi Surya will lead the group as chairperson. The committee includes a mix of lawmakers like Praveen Khandelwal, NK Premachandran, and others from different parties, totaling around 20 members.
Commerce and Industry Minister Piyush Goyal brought the bill to the Lok Sabha during the recent monsoon session. It follows up on the successful Jan Vishwas Act of 2023, which cut down minor criminal penalties in 183 rules across 42 laws handled by 19 government departments. That move helped boost the Ease of Doing Business in India.
The new 2025 bill takes things further by targeting 16 central laws managed by 10 ministries. It aims to tweak 355 sections overall—decriminalizing 288 of them to make business easier and amending 67 more to improve everyday life, or Ease of Living. Specific changes hit laws like the New Delhi Municipal Council Act of 1994 and the Motor Vehicles Act of 1988, cutting red tape for regular folks and companies alike.
In another big step, Birla named BJP MP Baijayant Panda as chairperson for the Select Committee on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. Panda, who earlier guided a panel on the new Income Tax Bill, joins 23 other MPs from across political lines to dig into the proposals.
The bill seeks to fix slowdowns in India’s insolvency process under the 2016 Insolvency and Bankruptcy Code (IBC). Right now, starting a corporate insolvency resolution should take just 14 days, but it often drags on for over 434 days. To speed things up, the changes would require quick approvals based purely on proven defaults. Other reforms include a new Creditor-Initiated Insolvency Resolution Process (CIIRP), better rules for selling assets in resolution plans, clearer priorities for government debts, and stricter controls on pulling out of the process.
Finance Minister Nirmala Sitharaman introduced the IBC Amendment Bill in the Lok Sabha on August 13. These updates aim to make insolvency resolutions faster and more efficient, strengthening India’s business environment overall.
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