India’s next big corporate reform: Decriminalise over 100 offences by year-end

Subscribe to enjoy similar stories. New Delhi: The government is preparing to decriminalize more than 100 offences under various laws by the end of this year to improve investor confidence and unlock potential for faster economic growth, three persons familiar with the development said.

The Jan Vishwas Bill 2.0 that seeks to decriminalise such provisions will be tabled during the monsoon or winter sessions of Parliament, they said. India’s decriminalization drive announced by finance and corporate affairs minister Nirmala Sitharaman on 1 February entails removing criminality from minor violations and procedural lapses, dropping outdated provisions in the law, and making the regulatory regime more suited to current economic realities.

In effect, such offences would no longer lead to arrests, a court trial, or a jail term, but would be adjudicated by regulators, with the possible levy of a fine. The aim is to amend certain labour, securitization, consumer, banking, and financial laws, and provisions specific to sectors like mining, transportation, and petroleum in one go under the proposed legislation, said the first of the three people mentioned above.

“Provisions that were not decriminalized in the previous drive—Jan Vishwas Act of 2023—will be included in the new bill," this person said. In the 2023 law, more than 180 offences were decriminalised.

Also read | India to drop ‘Google tax’ from 1 April amid US tariff threats The department for promotion of investment and internal trade (DPIIT), which is spearheading the legislative work on Jan Vishwas Bill 2.0, has already reviewed over 900 provisions across 129 laws administered by more than 30 ministries or departments. Among these, 82 provisions have been marked as