Union Ministry of Finance on 19th Dec 2016 announced numerous measures to improve ease of doing business in the country. These decisions include the following:
eBiz portal will be in place for starting a business which shall include three services of Ministry of Corporate Affairs, Registration for PAN, TAN, EPFO and ESIC.
Ministry of Corporate Affairs and Ministry of Labour and Employment will also work for lowering the number of procedures to start a business to 4 and number of days to start a business to 4 as well.
Shram Suvidha portal will be the only portal for filing returns, challan and making online payments for EPFO, ESIC contributions and other filings and payments.
Department of Revenue plus Ministry of Shipping will work towards increasing the number of direct delivery consignments to 40% by the close of the month.
Departments shall ensure cost and time to export and import gets reduced substantially to bring India within top 50.
Ministry of Corporate Affairs will also work with the concerned stakeholders so provisions under insolvency and bankruptcy code are implemented.
To improve the nation’s rank in the indicator, Getting Credit, Department of Financial Servics and Ministry of Corporate Affairs will integrate CERSAI database with ROC Registry of Charges to create single assets registry.
eCourts will be expedited for electronic filing of complaints, summons and payments.
Union Commerce and Industry Ministry shall work to ensure India’s rank (172) on enforcing contracts improved.
On Construction Permit, the Urban Development ministry mentioned the procedures should be brought down to 8 and completed within 60 days.
Ease of Doing BusinessEase of Doing Business Index created by World Bank. Economies are ranked on their ease of doing business, from 1–190.
The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each consisting of several indicators.
Higher rankings mean:- Better regulations for businesses.
- Stronger protections of property rights
