Page 5 - Ease Of Doing Business

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

Working on law to promote ease of doing biz; may bring bill soon: Goyal

Commerce and Industry Minister Piyush Goyal on Friday said the ministry is working on a law to decriminalise certain provisions to promote ease of doing business. A bill in this regard is expected to be introduced in the forthcoming winter session of Parliament, he added. The minister urged the industry to "quickly" give feedback on reducing compliances and decriminalising unnecessary sections. "We have focused on ease of doing business...We continue to reduce the compliance burden for our businesses...Give us, feedback quickly because, in the winter session, we are proposing to come out with a very holistic amendment to the laws related to businesses to ease the burden, and reduce compliances," Goyal said while addressing PHDCCI's Annual Session 2022. He said that the government has decriminalised many laws. "We are working on many many other laws currently... DPIIT (Department for promotion of Industry and Internal Trade) is spearheading this in consultation with other ministrie

DPIIT may decriminalise different provisions related to minor offences

The commerce and industry ministry is framing a law to decriminalise all provisions related to minor offences with an aim to promote ease of doing business in the country, a senior official said. Work is at an advanced stage for framing the ease of doing business and ease of living bill and the ministry is targeting to introduce it in the winter session of parliament, the official said. We are making an Act. We are bringing one bill and that one bill seeks to decriminalise all the minor offences mentioned in different Acts. We are having consultations with all the departments on the bill. We will bring a common Act for decriminalisation. Basically replacing imprisonment and fine with penalties, and rationalisation. For minor offences, there should be no jail. Instead, there should be a penalty, the official added. Citing some examples, the official said at present there are jail terms for small offences like not doing whitewash in washroom and canteen. The effort is aimed at ...

National Logistics Policy to boost ease of doing business: Gadkari

Union minister Nitin Gadkari on Saturday said that the National Logistics Policy which focuses on re-engineering, digitisation and multimodal transport, would further boost 'ease of doing business' for all industries and stakeholders. The road transport and highways minister in a tweet further said the policy will completely change India's logistics sector, boost seamless movement of goods and reduce carbon footprints. Prime Minister Narendra Modi on Saturday unveiled the National Logistics Policy that seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. At a grand launch event, Modi said the policy aims to expedite the last-mile delivery, helping businesses save time and money. While the new policy addresses challenges of the logistics sector, it together with the infrastructure augmentation plan PM Gati Shakti will address gaps, the prime minister added. The Union government has been workin

Govt revises definition of small cos; reduced compliance burden for firms

The government has revised the paid-up capital and turnover thresholds for small companies that will help reduce the compliance burden on more entities. The latest decision by the corporate affairs ministry, which is implementing the companies law, has again revised the definition of small companies and is aimed at further improving the ease of doing business. With the amendments to certain rules, the threshold for small companies' paid-up capital has been increased to "not exceeding Rs 4 crore" from "not exceeding Rs 2 crore". Similarly, the turnover threshold has been revised to "not exceeding Rs 40 crore" from "not exceeding Rs 20 crore", the ministry said in a release on Friday. The revisions will allow more entities to come under the category of small companies. According to the ministry, small companies are exempted from the requirement to prepare cash flow statement as part of financial statement and can file an abridged annual return. They will not be required to have the

16 states/ UTs have on-boarded National Single Window System so far: Report

NSWS is a platform for the guidance of investors to identify and apply requirements according to the need of their business

Centre working on enhancing mines sector output in GDP to 2.5% by 2030

The Centre has taken various measures with regard to Ease of Doing Business to increase the contribution of mines and minerals sector towards the country's GDP to 2.5 per cent by 2030, Union Coal, Mines and Parliamentary Affairs Minister Pralhad Joshi said on Friday. He addressed a two-day National Conclave on Mining Ministers here to deliberate on the ambitious target. "The intention of this conclave is that we should in coming years up to 2030, under the guidance of Prime Minister Narendra Modi ji, other than coal and petroleum, add 2.5 per cent to the GDP of the country. Now, other than these two -- coal and petroleum -- it is 0.9 per cent," he told reporters after the inaugural session. The Prime Minister has given the target of 2.5 per cent to be achieved by 2030, he said. "...we want to achieve it before 2030. For that, we have taken lot of measures as far as Ease of Doing Business is concerned and ease of investment is concerned," the Union minister said. Observing that the

Need to boost investor confidence for sustainable, transformative growth

India needs to show investors not only that they can achieve decent returns in the country but that their money is safe here

Investing abroad rules revamped to increase ease

This should help Indian businesses take and manage overseas exposure

Time taken to resolve commercial cases in India down nearly 50%: Report

Even though India's overall ranking in 'Ease of doing business' had improved from 142 in 2014 to 63 in 2020, on the 'enforcement of contracts' it improved marginally from 186 in 2014 to 163 in 2020

DPIIT to hire consultants to work towards ease of doing business

The commerce and industry ministry is planning to hire consultants to study business environment and compliances and suggest steps to promote ease of doing business in the country. The Department for Promotion of Industry and Internal Trade (DPIIT) has invited applications from eligible qualified professionals for engagement as senior consultant and consultant for three years for working in the Ease of Doing Business (EoDB) Reform Secretariat. The secretariat has been established in the DPIIT. Interested candidates can apply online by end of this month. The work responsibilities of these consultants include conducting a detailed analysis of existing acts/rules and their provisions; review and analyze the legal and regulatory frameworks dealing in different jurisdictions in India; and devise an action plan with a focused approach on the reforms required towards improving regulations. Further, the consultants should have "an understanding of the business regulations at the state lev

Ease of justice equally important as ease of doing business, living: PM

Prime Minister Narendra Modi on Saturday said that Ease of justice is equally important as ease of doing business and ease of living

Irdai carrying out series of reforms for ease of doing business: Minister

Irdai has also developed a mechanism to process applications filed for registration of new insurers and for grant of certificate of registration to commence the insurance business in India

2021 start-up ranking: Gujarat, Karnataka emerges as best performers

Top performers among the larger states include Kerala, Maharashtra, Odisha and Telangana

New IT rules likely to impact ease of business in India, says report

Study says proposal to trace origin of a message on social media platforms is technologically unfeasible

Andhra, Gujarat 'top achievers' in govt survey on reforms for business

The latest fifth edition of the Business Reforms Action Plan (BRAP), 2020, by the industry department did not rank states on the ease of doing business measures undertaken by them

Seven states among top achievers in 'ease of doing business' ranking

In the category of emerging business ecosystems, there are 11 states and UTs, including Delhi, Puducherry and Tripura

Seven states among top achievers in 'ease of doing business' ranking

In the category of emerging business ecosystems, there are 11 states and UTs, including Delhi, Puducherry and Tripura