DPIIT seeks views on draft cabinet note on national policy for ease of doing business

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought views of different ministries on its draft cabinet note on national policy on ease of doing business, sources said.

The main features of 'National Policy on Ease of Doing Business - Proposals for Facilitation of Businesses' include assessing requirement of licences; removal of renewal requirement; assessment of time and cost of regulation; and inspection reforms.

It has also proposed norms about regular stakeholder consultation on the issue; public service - quality and delivery mechanism; grievance redressal mechanism; and creation of sector specific single point mechanism, the sources added.

After approval of the Union Cabinet on the final note, the policy would be circulated to ministries/departments of central government and state and Union Territories for implementation at their end.

The policy assumes significance as the DPIIT is working towards further improving India's doing business ranking by the World Bank.

India's rank improved by 65 positions in Doing Business index over the last four years (2014-2018). In the last year's report, India ranked at 77th position.

It is aiming to bring the ranking within the top 50th.

Improvement in ease of doing business helps both domestic and foreign investors to invest in the country.