The Commerce and Industry Ministry is planning to hire consultants to study the business environment and compliances, and suggest steps to enhance the ease of doing business in the country. In this regard, the Department for Promotion of Industry and Internal Trade has invited applications from eligible qualified professionals. This is the need of the hour. Enabling greater participation (both physical and digital) in the economy is possible only through promoting innovative, interoperable and inclusive systems which improve the overall infrastructure and help reduce transaction costs. Policy must take a macro perspective of demand, supply, volume, and the ease and safety of the public and stakeholders of all transactions (both financial and non-financial) in the economy. In tomorrow's India, electronic money could replace cash significantly, and policy should factor that also into its calculations to ease frictions in the system.
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