Page 4 - Ease Of Doing Business

CM Mann woos investors, promises to give clearances within 15 days

The previous Punjab Investment Summit attracted investment to the tune of 8,200 crore, according to the commitment listed on the Summit's website

We are a phone call away: Andhra CM YS Jagan Mohan Reddy to investors

The state is determined to preserve its reputation for ease of doing business with focused policies

Next phase for GST

Appellate tribunal will improve business environment

A question of quorum

Understrength CCI undermines business climate

1,330 foreign firms, subsidiaries have shut shop in last 3 yrs:Minister

As many as 1,330 foreign companies and subsidiaries of overseas firms have shut shop during the last three years, Parliament was informed on Friday. In the same period, however, as many as 4,994 new foreign companies and subsidiaries of foreign companies got registered in India, Commerce and Industry Minister Piyush Goyal said in a written reply to the Rajya Sabha. There are 17,432 active foreign companies and subsidiaries of foreign companies operating in the country, he said. "1,330 foreign companies and subsidiaries of foreign companies have closed during the past three years," he said. He said that the closing of operations is a matter of private commercial business decision. "It depends on a host of factors such as viability of operations, availability of resources, market size, infrastructure, political and macroeconomic climate as well as the decision of a particular business entity to operate in the country," Goyal added. Meanwhile, replying to a question on trade gap, ..

Budget 2023: Higher crude exploration drives non-tax revenue goal

The government lists receipts from licence fees for the right of exploration of oil and gas, as well as royalty on off-shore crude oil and gas production

PLI scheme to make Indian firms competitive, attract investment: Survey

Benefits of the production linked incentive (PLI) scheme for as many as 14 sectors will help make domestic manufacturers globally competitive, attract investment in cutting-edge technology and make India an integral part of the global value chain, the Economic Survey said on Tuesday. The scheme will benefit the MSME ecosystem in the country, it said. It informed that as of December 31, 2022, 717 applications have been approved under 14 schemes and over 100 MSMEs are among the PLI beneficiaries in sectors such as bulk drugs, medical devices, telecom, white goods and food processing. As per reports of different ministries which are implementing their schemes, about Rs 47,500 crore of actual investment has been made; production/ sales of Rs 3.85 lakh crore of eligible products and employment generation of around 3 lakh has been reported. The government had announced an outlay of Rs 1.97 lakh crore for the Production-Linked Incentive (PLI) schemes for different key sectors, to create .

DGFT simplifies composition fee for export obligation extension

The previous formula for composition fee was convoluted and difficult to understand, which made the process more tedious and strenuous for exporters

India making big strides in ease of doing business, says DPIIT Secretary

All labour laws have been consolidated into four codes, which have been passed by Parliament and the government is in the process of their final implementation, he said

Removing barriers to entry

Policies should focus on improving the ease of entering business, not just the ease of doing business

Irdai to allow insurers to auto renew FRN of cross border reinsurers

Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which would be available FY24 onwards

Piyush Goyal tables Jan Vishwas Bill in Lok Sabha for ease of doing biz

Govt introduced the Jan Vishwas (Amendment of Provisions) Bill 2022 in Lok Sabha, which is aimed at amending certain enactments for decriminalising and rationalising minor offences

Cabinet okays bill decriminalising minor offences to push ease of doing biz

The Union Cabinet has approved a bill to decriminalise minor offences by rationalising related provisions under different ministries to ensure ease of doing business, sources said on Friday. The proposal was mooted by the Department for Promotion of Industry and Internal Trade (DPIIT). Sources said that the Cabinet discussed the Ease of Doing Business and Ease of Living (Amendment of Provisions) Bill, 2022 in a meeting here and has approved it as the bill is likely to be introduced in the ongoing winter session of Parliament. The bill proposes to rationalise about 110 provisions across 35 Acts administered by 16 ministries/departments. Explaining the rationale behind the proposed legislation, one of the sources said that taking the reform agenda to the next level, the government is focussing on reducing the overall compliance burden for businesses and citizens. For this, a four-pronged strategy of simplification, digitisation, decriminalisation of provisions for minor offences, an

Maharashtra ahead of other states in ease of doing business, says official

Maharashtra has emerged as the leader in ease of doing business evaluation across all states in India, a top bureaucrat in the state government said on Thursday. Dr Harshadeep Kamble, Principal Secretary, Industries, said a report published by UK India Business Council makes it clear that Maharashtra is number one compared to other states and Union Territories in India in terms of doing business. The report, Doing Business in India: The UK Perspective (2022 Edition)' is the UK India Business Council's eighth annual report in which views and experiences of UK businesses and higher education institutions on India's business environment are showcased, Kamble told PTI. The report states that Maharashtra was the highest rated state in terms of the operating environment, followed by Gujarat, Chandigarh, Haryana, Himachal Pradesh, Andhra Pradesh, and Uttar Pradesh, he said. It ranks Maharashtra at number one amongst the states and UTs in India, with a score of 3.33 out of 5, followed by .

Govt exempts Isro from provisions of explosives rule to promote business

The government has exempted the Indian Space Research Organisation (ISRO) from taking its approval for manufacturing, storage, use and transportation of solid propellant for space rockets to promote ease of doing business. Earlier, ISRO was required to take a license from the Petroleum and Explosives Safety Organisations (PESO), an arm of the department for promotion of industry and internal trade (DPIIT). A solid propellant is the main fuel used in a category of space rockets. According to a notification of the DPIIT, the exemption is subject to a few conditions. "The central government hereby exempts Indian Space Research Organisation from the operation of all the provisions of the Explosives rule 2008 for manufacturing, storage, use and transportation of solid propellant for space rockets falling under UN Class I (explosives)," the notification said. As per the conditions, ISRO has to follow the guidelines of the Storage and Transportation of Explosives Committee (STEC) for the

The future of Indian economy: Should it play the power game or values game?

India must decide what it wants to be - a country admired for its soft power and market, or an arbitrary state that can do what it wills with both individuals and businesses - writes T N Ninan

Forced transmission

New guidelines for satellite channels leave wide scope for interpretation

Reducing the legal burden

Decriminalisation eases compliances for companies

FDI and the ordinary Indian

For India to work as a dynamic global investment destination, it must work for its ordinary people

Ministry proposes to decriminalise law on collection of statistics

No imprisonment for offences like obstructing or deceiving officers, but fines will be increased