The government has proposed to formulate a National Retail Trade Policy and stakeholder consultations are being held for the same, commerce and industry minister Piyush Goyal informed Parliament on Wednesday.

In March, the minister had said that the Centre proposes to have a national policy to create a conducive environment for retail trade by simplifying the rules and regulations affecting the growth of the retail sector.

In a written reply, Goyal said the government has set up a National Traders’ Welfare Board with the objective of simplification of the Acts and rules applicable to traders, reduction of compliance burden and improvement in access to funds.