Finmin asks MCA to simplify ROC filing process:

Finmin asks MCA to simplify ROC filing process The three-day Chintan Shivir of the Ministry of Finance and Ministry of Corporate Affairs came to an end, today at Kevadia, Gujarat. The Chintan Shivir was presided over by Smt. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, in the presence of Shri Pankaj Chaudhary and Dr. Bhagwat Kisanrao Karad, Union Ministers of State for Finance. The Chintan Shivir was attended by senior officials of Ministry of Finance and Ministry of Corporate Affairs. The Finance Secretary, Secretaries from D/o Economic Affairs (DEA), D/o Investment and Public Asset Management (DIPAM), D/o Revenue (DoR), D/o Financial Services (DFS) and Ministry of Corporate Affairs, Chief Economic Advisor, Chairmen of CBDT and CBIC were also part of the deliberations. More than 100 top MoF and MCA personnel engaged in open and honest conversations about how to reorient in order to embrace the Panch Pran as envisioned by Prime Minister Shri Narendra Modi in order to attain the Amrit Kaal aims. On the topics of "Building our Capacities," "Improving Our Efficiencies," and "The Role of the Ministry of Finance and Ministry of Corporate Affairs in Amrit Kaal," interactive sessions were held. Smt. Sitharaman asked the officers to go beyond their assigned responsibilities and have a greater influence on other areas as well in order to foster the emergence of synergistic ideas that will be beneficial to the Ministry as a whole. The Union Finance Minister concluded the Chintan Shivir by stating that both effectiveness and efficiency are long-term phenomena and that consistency in reform policies, with an emphasis on both human and institutional efficiencies, are essential components of providing public services. The Union Finance Minister stressed that both MoF and MCA must work towards process simplification with a focus on not just the whole-of-Government approach but also whole-of-the-country approach to maximise delivery and engagement. The phenomenon of information overload, she said, is counter-productive to effectiveness and efficiency. Smt. Sitharaman urged MoF and MCA senior officers to continuously mentor the new entrants/younger colleagues to develop the wherewithal in delivering results in the Amrit Kaal and beyond making Viksit Bharat by 2047. The Union Finance Minister also emphasised on the need to continuously reorient policy in the cultural context and to instil a sense of ownership in decision-making, to enhance effectiveness with efficiency. During the discussions, Union Minister of State for Finance Shri Pankaj Chaudhary called for ambitious target-orientation for productively achieving goals towards India's journey in becoming a developed country by 2047. Dr. Bhagwat Kisanrao Karad, Union Minister of State for Finance, stressed the importance of knowledge and skill development in his remarks during the session. Dr. Karad stated that in addition to providing suitable feedback mechanisms for real-time assessment of service, choices must be taken in cooperation with informed partners and stakeholders. The Session on the “Role of Ministry of Finance and Ministry of Corporate Affairs in Amrit Kaal” focused on enabling growth and stability, and focused on the following four themes:

• Capital Formation and Retention
• Inclusive Growth
• Aatmanirbhar Bharat
• Strengthening Public Finance

During the session on “Building our Capacities”, discussions revolved around:

• Building Professional Capacity
• Building Personal Capacity
• Work-life Balance Capacity
• Institutional Capacity

The discussion topics during the session were diverse aspects of capacity-building in the areas of human resource and institutions, role of technology and software-enabled systems, intra and inter-ministerial consultations, importance of training at various levels, and mentoring young people for leading roles in Amrit Kaal in the quest to build a strong and resilient India Viksit Bharat by 2047. During the session on “Building our Efficiencies”, in-depth discussions were held on:

• Enabling skilled and motivated workforce
• Robust internal processes
• Coordination and engagement with internal stakeholders
• Focus on external stakeholders
• Changing organisational culture

The session's discussions focused on skill development, upholding reliable organisational procedures, streamlining file management systems and accelerating decision-making in MoF and MCA, onboarding stakeholders early on, citizen-friendly technology tools, leveraging technology and using AI for future readiness, taking a whole-of-government approach to the delivery of public services, timing the delivery of citizen-centric services, eliminating duplication of effort, and more.