Niti Aayog sets up task forces for achieving policy certainty in contract enforcement

Government think tank Niti Aayog on Monday said it has constituted two task forces that will recommend a policy framework for the enforcement of contracts as well as effective conciliation mechanism. One task force, which will suggest facilitation of speedy resolution of contractual disputes between private entities and the government, will be headed by Niti Aayog CEO Amitabh Kant. The second task force, which will recommend a policy framework for the enforcement of contracts, will be led by Niti Aayog Vice Chairman Rajiv Kumar and will have members from key ministries and departments.

“To facilitate speedy resolution of contractual disputes between Govt & Pvt entities and augment ease of doing business, a Task Force, under the chairmanship of #NITIAayog CEO @amitabhk87 has been constituted, to recommend an effective Conciliation Mechanism,” the Aayog tweeted. In another tweet, it said, “To address risk perception in investing & to achieve policy certainty, a Task Force under the leadership of #NITIAayog VC @RajivKumar1 has been constituted, with participants from key ministries/departments, that will recommend a policy framework for the enforcement of contracts.”

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The Aayog also said the expert committee constituted by Ministry of Petroleum and Natural Gas (MoPNG) submitted its report, suggesting a road map for 20 per cent ethanol blending in petrol by 2025. The report suggests year-wise targets for the production and supply of ethanol; manufacture of compliant vehicles and regulatory simplification, it added.