What are Process Reforms?
Process reforms are basically reforms that try to remove friction in certain business or individual activities. In simple words, they aim at making life and business activities smoother—whether it’s about ease of doing business or ease of living issues.
The Process of Process Reforms
Further she talked about 2 process reforms that she was a part of which helped me clarify the concept even further
Case Study I: Voluntary Liquidation of Companies
Earlier, the voluntary liquidation of companies in India was a painfully long process. On average, it took around 499 days! The process required publishing a notice before official liquidation and ensuring there were no unresolved issues with the company.
The reform was brought about and the publishing of notices was done weekly/fortnightly instead of piling them up and extending the time required. With the reform, the time was reduced and the number of days dropped drastically—from 499 to 195 days.That’s almost an 88% reduction in time!
Case Study II: Investor Education & Protection Fund
For the second case study, she suggested to look into the details on our own. The idea was to push us to explore how reforms in this area help protect small investors and spread awareness about their rights.
Final Thought
What struck me most was how process reforms are not about creating big, flashy policies. Instead, they are about removing the small frictions that delay, confuse, or burden people. A simple change can make the system much more efficient.
It made me realize that sometimes, improving governance isn’t about new laws or structural changes but about streamlining what already exists.
