Ease Of Doing Business

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 ...

NITI Aayog invites EoI for doing research on 'cost of doing biz in India'

Government think tank NITI Aayog has invited expression of interest for undertaking research on 'Cost of Doing Business in India' (CoDB), as India faces strong competition from countries like Vietnam, China, and Indonesia, which offer lower operational costs in key sectors. In a notice, Niti Aayog said the cost of doing business is a pivotal factor influencing the competitiveness of an economy, encompassing the expenses businesses incur to establish, operate and expand. "For a rapidly growing economy like India understanding these costs is essential to fostering a conducive business environment and attracting investment. "Despite India's significant reforms to improve its business climate, it faces strong competition from countries like Vietnam, China, and Indonesia, which offer lower operational costs in key sectors," it said. According to the notice, in the wake of the pandemic, shifts in global trade, investment, and supply chains, coupled with growing concerns about economic an

Regulatory compliance important to stay ahead of fraudsters: DFS Secy

He stressed the importance of regulatory compliance to stay one step ahead of fraudsters in the industry

Time to open up insurance sector for 100% FDI: Irdai chief Debasish Panda

Panda spoke about the transformation the industry has undergone since he took over and what is next in store.

Unlocking the Luxury Market in India

Sebi mulls steps to facilitate ease of doing biz for ESG Rating Providers

Markets regulator Sebi has proposed tweaking framework for ESG Rating Providers (ERPs), particularly for those using a subscriber-pays model, including an exemption from the requirement to disclose ESG ratings to stock exchanges. Additionally, the regulator has suggested that ERPs using a subscriber-pays model should share ESG (Environmental, Social, and Governance) rating reports with both subscribers and the rated issuer simultaneously. This policy should be publicly disclosed. ERPs should ensure that rated entities, their group companies, or associates cannot subscribe to their own ESG ratings, Sebi said in its consultation paper. These proposals are aimed at enhancing the clarity, transparency, and regulatory alignment of ESG ratings within Sebi's framework. The Securities and Exchange Board of India (Sebi) had introduced regulations for ERPs in July 2023, but ERPs have sought clarifications on certain provisions, particularly for those using a subscriber-pays model, and ...

Stable policies, ease of doing biz to boost manufacturing: Experts

Stable policies and further improvement in the ease of doing business in states will help significantly boost the country's manufacturing sector's growth, according to experts. They also said that sectors like renewable energy, particularly in the solar segment and electronics, hold huge potential to promote domestic manufacturing and create thousands of jobs. The government has already taken a series of steps like rolling out the production-linked incentive scheme (PLI) for 14 sectors, tweaking tariffs and issuance of mandatory quality control orders for different products to support domestic players and increase manufacturing activities, they added. "Stable policies and further promotion of ease of doing business at the state level will help significantly boost the country's manufacturing sector growth," Sujoy Ghosh, vice president and country managing director, First Solar, said. The Make in India initiative provides a window of opportunity for companies looking at alternative .

Rajasthan carrying out large-scale reforms for ease of biz, says minister

The Rajasthan government is carrying out large-scale administrative reforms to ensure ease of doing business and make the state investor-friendly, industry and commerce minister Rajyavardhan Rathore said on Wednesday. "The government is constantly trying to reduce the cost of doing business and reduce red tape to zero under 'ease of doing business' so that it is easy for the industry to do business here," Rathore said while talking to reporters about the 'Rising Rajasthan' Global Investment Summit-2024. The summit is scheduled to be held in Jaipur from December 9-11. The minister further said that the government aims to double the state's gross domestic product (GDP) from the current Rs 15 lakh crore to Rs 30 lakh crore in the next five years. Mobilising investment in the state through the 'Rising Rajasthan' Global Investment Summit is the top priority of the government, he said. The summit is a great opportunity to showcase Rajasthan as one of the most business-friendly states an

Madhya Pradesh bags 'top achiever' status in DPIIT business reforms

The Business Reforms Action Plan (BRAP) assesses the business reforms undertaken by Indian states and union territories (UTs) to facilitate businesses and citizens

Investment-friendly ecosystem key to Kerala's ease of business reforms: CM

A day after Kerala was awarded for its ease of doing business reforms by the Union Ministry of Commerce and Industry, Chief Minister Pinarayi Vijayan on Friday said the investment friendly ecosystem and entrepreneurs' growing confidence in the state has helped it in achieving this status. Kerala has come first in the ranking of the Union Ministry of Commerce and Industry with top achiever status in nine sectors, Vijayan said on Friday. "Proud that Kerala has come first in Ease of Doing Business reforms in the country, with Top Achiever status in 9 reform areas! Our investment friendly ecosystem and entrepreneurs' growing confidence in Kerala's potential has truly been captured. This is a time like no other to invest in and grow from #Kerala.," Vijayan posted on 'X'. The chief minister also pointed out that the state ranked first this year from the 28th position in 2021. Kerala has reached 15th position in 2022. Industries Minister P Rajeeve said out of 30 reform areas, Kerala earne

Regulatory reforms critical for India's push towards Viksit Bharat

While several government initiatives towards policy and legislative reforms are of critical importance, the challenges faced are more internal than external

Mkt regulator Sebi enhances 'ease of doing' business for foreign investors

The market regulator is also working to make regulations 'light-touch' for those FPIs which only invest in government securities or are sovereign funds

Eye on FDI, Centre to ask state govts for investment-friendly reforms

The Centre is currently engaging with various countries to boost FDI inflows, which dropped to $26.5 billion in FY24 from $42 billion in FY23

Corporate governance: Should govt be market-friendly or business-friendly

Political acceptability comes more readily to a govt visibly involved in supporting non-corporate private sector, reducing income inequalities and regional disparities, and addressing caste concerns

Reduction of corporate tax in Budget will promote India-US trade: Ex-CEA

Professor Krishnamurthy Subramanian said that the removal of Angel Tax would be significant for India's startup ecosystem and encourage investments from outside

Sebi extends timeline for inputs on plan to facilitate ease of doing biz

Markets regulator Sebi on Monday extended the deadline for submission of public comments to July 29 on the proposal of providing additional time for disclosure of litigations or disputes involving claims against listed firms. Sebi, on June 26, issued a consultation paper on recommendations of the expert committee for facilitating ease of doing business and harmonisation of the provisions of ICDR (Issue of Capital and Disclosure Requirement) and LODR (Listing Obligations and Disclosure Requirements) Regulations and had sought public comments by July 17. Now, it has been decided to extend the timeline for submission of comments to July 29, the Securities and Exchange Board of India (Sebi) said in a statement. In its consultation paper, the regulator proposed allowing companies to conduct virtual or hybrid shareholder meetings on a permanent basis. Also, the markets watchdog has suggested additional time for disclosure of the outcome of the board meeting that concludes after trading .

Govt committed to create biz friendly environment for industry: Goyal

The Centre is committed to create a business-friendly environment for industry and innovation, Commerce and Industry Minister Piyush Goyal has said. Interacting with industry leaders in Hyderabad on Sunday, the minister said such interactions are key for understanding the challenges faced by the industry and policy-making. "Goyal emphasised the government's commitment towards fostering a robust industrial ecosystem that supports innovation, sustainable growth, and global competitiveness," the commerce ministry said on Monday, quoting the minister. He hailed Telangana for actively promoting investments across various sectors, making it a favourable destination for businesses and investors. The interaction saw a participation of more than 200 stakeholders, including women entrepreneurs, MSMEs, industry associations, export promotion councils and startups, from various sectors.

Govt to form Mediation Council to streamline business dispute resolution

The proposed Mediation Council of India, established under the Mediation Act enacted last year, will mandate that mediation proceedings be completed within 180 days

Trade bodies ask Rajasthan govt to focus on ease of doing business

Suggestions were presented by the Hotel Association of Rajasthan to make the state a global tourism destination by 2047

Framework for state mining index to be finalised soon: Mines secretary

The government is likely to soon finalise a framework for a state mining index which would serve as a tool for stakeholders and ensure ease of doing mining business, an official said on Wednesday. A state mining index would boost cooperative federalism as well as competition among states, Mines secretary V L Kantha Rao said at a day-long workshop on State Mining Index here. Principal secretaries, directors and other officials from 26 states participated in the workshop to discuss and finalise the indicators and sub-indicators of performance which form part of the index framework and methodology. Post consultations and feedback from states, a framework of the state mining index will be finalized and released in July 2024 for actual ranking to take place in April next year, Kantha Rao said. The index would serve as a tool for stakeholders of the mining sector to understand different aspects related to the ease of doing mining business within a state, he added. The secretary also mad