Viksit Bharat 2047 vision gets a boost as Sitharaman urges futuristic, user-friendly corporate systems

Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday stressed that governance in India must be “easy, transparent and facilitative” as she reviewed the functioning of regional directorates and registrars of companies across the country.

During the meeting, Sitharaman highlighted the need to simplify processes and make systems more user-friendly, especially as India moves towards its vision of Viksit Bharat 2047. She noted that frequent legislative reforms, including the Insolvency and Bankruptcy Code (IBC), demonstrate the country’s ability to adapt to changing times.

To improve transparency within the corporate affairs ecosystem, the minister suggested creating a live dashboard that would give stakeholders real-time access to key updates. She also encouraged officials to explore better ways of conveying legal requirements so that companies can easily understand and comply with them. Regular in-house discussions were proposed as a practical step towards improving the ease of doing business.


Sitharaman emphasised that the ministry must aim to be futuristic and deliver services in a time-bound manner. The discussion with Registrars of Companies (ROCs) and Regional Directorates (RDs) covered several areas such as form processing, fast-track mergers, incorporation and voluntary exit of companies and LLPs through centralised facilities, and various e-governance measures.

Other topics included harmonisation of forms, adjudication procedures, inquiries, inspections, investigation manuals, prosecution, appeals against adjudication orders and compounding of violations. The ROCs and RDs, which operate under the Corporate Affairs Ministry, play a crucial role in implementing company-related legislation.

The minister noted that the Companies Act and its rules have been amended repeatedly to align with the needs of modern India. Referring to the IBC, she said the changes ensure that the country’s systems remain responsive and effective.

Sitharaman also acknowledged the growing trust in Indian corporate governance, crediting the transparency of financial disclosures and the ministry’s role in regulating well-managed governance structures.

Corporate Affairs Secretary Deepti Gaur Mukerjee informed the minister that enforcement manuals have now been standardised, and further simplification of processes and rules is already in progress to ensure timely and transparent service delivery.

Minister of State for Corporate Affairs Harsh Malhotra also addressed the meeting, reiterating the ministry’s commitment to the principle of “maximum governance, minimum government”.

Inputs from PTI