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Ease Of Doing Biz

Telangana urges Centre to simplify IT slabs, reduce corp tax for biz ease

Telangana on Friday urged the Centre to simplify the Income Tax slabs and reduce corporate tax rates to enhance ease of doing business. In his speech at the pre-Budget meeting of the Union Finance Minister Nirmala Sitharaman at Jaisalmer, Rajasthan, Telangana Deputy Chief Minister Mallu Bhatti Vikramarka said streamlining IT and GST filing processes is vital as these processes currently consume weeks for mid-sized and large businesses. Expanding the tax base through digital tracking of financial transactions and encouraging voluntary compliance are also key measures, he opined. "Reforms to the Income Tax Act are a welcome step. India's current tax system is complex, leading to compliance burdens for individuals and businesses alike. Telangana urges simplification of tax slabs and reduction of corporate tax rates to enhance ease of doing business," Bhatti said. Telangana supports a realistic fiscal deficit target of 4.5 per cent of GDP to sustain momentum in infrastructure and ...

Updated On : 20 Dec 2024 | 9:04 PM IST

Bill to decriminalise minor biz offences may be tabled in Budget 2025

To further decriminalise minor offences, Jan Vishwas Bill 2.0 is expected to be tabled in the next Budget session, says Minister of Commerce and Industry Piyush Goyal

Updated On : 25 Sep 2024 | 3:40 PM IST

Jewellery industry key to Raj's economy, working to raise ease of biz: CM

The gems and jewellery industry plays an important role in Rajasthan's economic progress and the state is working on to promote the sector and ensure ease of doing business for entrepreneurs, Chief Minister Bhajanlal Sharma said on Friday. Sharma said that the share of gems and jewellery in the total exports from the state reached Rs 11,183 crore in 2023-24. Gems and jewellery businessmen are making a significant contribution to the economic progress of the state and the sector is a major job creator, the chief minister said at the inauguration of jewellery show JAS-2024 being organised by the Jewellery Association here. He further said that Jaipur is famous for gems and jewellery on the world stage and the state government is continuously working to promote this industry and make business easier for entrepreneurs. According to an official statement, Sharma said that the jewellery made in Jaipur is recognised worldwide for its beauty and craftsmanship. For this reason, gems and ...

Updated On : 05 Jul 2024 | 7:27 PM IST

Sebi tweaks norms for online bond platform providers to boost ease of biz

Capital markets regulator Sebi on Thursday tweaked the regulatory framework for Online Bond Platform Providers (OBPPs) to enhance the ease of doing business. This came after Sebi received representations from stock exchanges and market participants, including online bond platforms. "The proposed modifications shall aid in ease of doing business for OBPPs," the Securities and Exchange Board of India (Sebi) said in a circular. Under this, the regulator has modified the framework pertaining to the issue of order receipt, deal sheet and quote receipt in case of products, securities or services. On placement of an order by an investor, Sebi said that OBPPs will have to issue without delay an electronic order receipt which includes the date and time of the order, details of counter-parties involved, quantity and amount proposed to be transacted. After the execution of the order, the entity will issue a deal sheet to the investor for all transactions, stating all the relevant information

Updated On : 28 Dec 2023 | 7:27 PM IST

DPIIT undertaking exercise to measure cost of regulations in states

The Department for Promotion of Industry and Internal Trade (DPIIT) is undertaking an exercise to assess the cost of regulations in states with a view to improving further the ease of doing business, an official said. Through this, the official said, states will get an insight into reforms which they can bring to improve the business climate for industry. For this, DPIIT officials held a meeting in June with all selected survey agencies for assessing the cost of regulation. The session was scheduled to provide orientation/brief to the overall project coordinator/key persons from all regions. Citing examples, the official said seeking a number of papers and delays in giving approvals or clearances cost to the industry. "The exercise is aimed at reducing this cost," the official added. The department is taking a series of measures to reduce the compliance burden of the industry and improve the ease of doing business. It has removed or simplified thousands of obsolete provisions and

Updated On : 08 Aug 2023 | 8:03 PM IST

Kerala flags concerns about states' ease of doing business rankings

Kerala government has raised concerns about the process followed for the latest ease of doing business ranking of states. The issue was raised by Kerala Industries Minister P Rajeev during his meeting with Union Commerce and Industry Minister Piyush Goyal in the national capital. Addressing reporters here on Thursday, Rajeev said the concerns regarding the ranking process were raised with Goyal. The minister said that the process will be reviewed, according to Rajeev. The meeting happened on Wednesday. Kerala's ranking has slipped to 28th position. Rajeev also met Union Finance Minister Nirmala Sitharaman and urged for a relief package for the crisis-hit sector. The government has sought a relief package for the cashew sector which is facing a crisis. Rajeev emphasised that the state is focused on promoting ease of living and attract investments based on ESG (environmental, social and governance) aspects.