Wednesday, December 21, 2016

‘Ease of Doing Business’ & Business Startups - Government Effoorts

Government of India in its efforts to improve the business climate of the country and also improve country’s ranking in the World Bank’s report on Ease of Doing Business has given a   brief overview of the reforms undertaken recently and agreed to implement the suggested reforms by January, 2017. In this regard, each Department shall review the progress every week for carrying out the necessary reforms.
The major decisions taken during the aforesaid meeting were:
·         eBiz portal shall be mandated for starting a business – MCA work,  PAN and TAN, EPFO & ESIC  all will be done on same portal
·         MCA, CBDT, Ministry of Labour & Employment will work towards reducing the number of procedures & Start Business within 4 days.
·         Shram Suvidha Portal shall be the only portal for filing returns, challan and making online payment for EPFO & ESIC contributions as well as other filings and payments.
·         Department of Revenue and Ministry of Shipping shall work towards increasing the number of consignments and to ensure that the cost and time to export and import gets reduced.
·         MCA shall work so that the provisions under Insolvency and Bankruptcy Code are implemented through NCLT.
·         For improving the indicator ‘Getting Credit’, Department of Financial Services and Ministry of Corporate Affairs shall work towards integrating CERSAI database with ROC Registry of Charges to create a single registry of assets.
·         For improving ‘Enforcing Contracts’ the initiative of eCourts should be expedited for electronic filing of complaints, summons and payments especially in the Commercial Courts.
·         On ‘Construction Permit’, Ministry of Urban Development should explore the possibility of commencing the construction on architect’s certification and approval being granted only at the time of the occupancy of the building.
The next review of the progress to ensure their implementation within the time frame as agreed shall be done in the end of January, 2017.