New Delhi New Delhi: The government will rationalise the requirements and procedures for quick approvals for mergers of companies and expand the scope of fast-track mergers as part of efforts to further improve the ease of doing business (EoDB). The proposal is part of the Union Budget 2025-26 presented in Parliament on Saturday. “Requirements and procedures for quick approval of company mergers will be rationalised. The scope of fast-track mergers will also be expanded and the process simplified,” Finance Minister Nirmala Sitharaman said in her Budget speech.
Among other steps, the minister said the government will now introduce the Jan Vishwas Bill 2.0 to decriminalise over 100 provisions in various laws. Over 180 legal provisions were decriminalised in the Jan Vishwas Act 2023. Also, a revised central KYC registry will be launched in 2025. “We will also put in place a streamlined system for periodic updates,” Sitharaman said. The Institute of Company Secretaries of India (ICSI) described the budget as a balanced and transformational fiscal blueprint aimed at promoting long-term economic growth, stability and inclusive prosperity. “Rationalisation of requirements for faster company mergers, rationalisation of TDS/TCS, measures to encourage voluntary compliance reflect the much-needed ease of doing business,” the release said. Further, ICSI said a key priority of the budget is the expansion of social welfare programmes aimed at supporting vulnerable communities, including increased funding for education, healthcare and housing.
